Russia respects Iran's presidential election results and will continue to develop mutually beneficial cooperation and neighborly relations with Tehran, the Russian Foreign Ministry said in a statement released on Monday.

The Foreign Ministry said the events that occurred in Iran following the announcement of President Mahmoud Ahmadinejad's election victory were an exclusively internal issue for the country.

"We believe that the disagreements arising after the elections should be settled in strict compliance with Iran's Constitution and law," the statement said, RIA Novosti reported.