Iran and Russia may conclude oil and gas swap contracts

Iran considers possibility to enter into swap contracts with Russia on mutual supplies of oil, gas and petroleum products. This was reported today by the Central Asian country’s Oil Minister Bijan Namdar Zanganeh by results of talks with the Russian Energy Minister Alexander Novak in Tehran.

"We are ready to conclude swap contracts with Russia: to receive crude oil, natural gas and oil products from Russia in the north of Iran in exchange for supplying equivalent volume of oil, gas and petroleum products, produced in Iran, to Russian counterparts through the ports and terminals in the south of Iran," - said Zanganeh.

The talks between the two Ministers were held in the two-day visit of the Russian delegation, led by Novak, who also is co-chair of the Intergovernmental Russian-Iranian commission on trade-economic cooperation, to Tehran. At meetings with the heads of various departments the Russian delegation discussed a wide range of topics.