In recent years the role of geo-economic factors in international relations has become more prominent. Energy resources in particular are one of the important elements of the geopolitical power of countries. Russia and Iran are both two such examples of being globally recognized as important energy producers with huge oil and gas reserves that compete amongst themselves and other producers in the global energy market. However, in many circumstances competitors also need to collaborate and work together when it comes to their common interests. This article examines the possibility of Iranian-Russian cooperation in the energy sector. Taking into account particularly the “shale revolution”, the development of the LNG industry and the unilateral actions of the United States in the world energy market, this study will argue and emphasize that the cooperation and coordination of actions between Iran and Russia in the global energy sector has become more urgent and prominent. In addition to interaction within the framework of the GECF and OPEC, such issues as Russia’s participation in the Iran-Pakistan-India (IPI) gas pipeline project, the energy security of the Caspian Sea, the exchange of electricity through the Caucasus, i. e. the creation of electric network between Russia - Azerbaijan - Iran or between Russia - Georgia - Armenia - Iran, as well as the development of Iran’s cooperation with the Eurasian Economic Union in the energy sector are also factors that can lead to the development of the Russian-Iranian- relations and the strengthening of stability and security in the region