The Iranian oil and gas industry—although about a century old—has never been so derelict, poorly managed, and near bankruptcy as it is today. Russian President Vladimir Putin has recognized the deterioration of the Iranian petroleum industry as an opportunity for exploitation. In particular, he has manipulated the Islamic regime’s leadership through deception and false promises of the “benefits” of cooperation with Russian companies in the oil and gas sectors.Isolated and under extensive and serious sanctions by western countries, the Islamic Republic of Iran has looked to the north and has seen Russia as a country that follows the same path and goals as the Is...