Russia negotiating oil, gas swaps with Iran: official

TEHRAN, Oct. 07 (MNA) – Russia and Iran continue working out an option of oil and gas swaps, Deputy Prime Minister of Russia Alexander Novak told reporters.

"We are already working with them [with Iran - TASS] in this area, weighing individual routes and mechanisms. This pertains to oil and gas swaps," Novak clarified, TASS reported.

Russia and Iran are discussing oil and gas swaps, Novak said in May 2022. An option of energy supplies to Northern Iran and different logistical routes are being looked at, through the Caspian Sea and other countries, by rail and oil pipeline, he noted.

Russia and Iran are holding negotiations on a number of joint projects, including the oil and gas sector, the Russian government said on Thursday after the meeting between Deputy Prime Minister Alexander Novak and Oil Minister of Iran Jawad Owji.

"Preparation of a new major interstate agreement between the Russian Federation and the Islamic Republic of Iran is progressing to the final phase. This document will bring multi-aspect relations between our countries to the level of the strategic partnership," Novak said.

Participants in the talks discussed prospects of cooperation between the two countries on the global oil and gas market, potential joint projects on the territory of Iran, and interaction in the banking sphere and in trade.

MP/PR

News Code 192164

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