Iran seriously expanding Russia trade ties

Written by  Published by:Shiite News
Published in Iran
Saturday, 13 June 2015

Minister of Petroleum Bijan Zangeneh says Iran seriously plans to forge “long-term” economic relations with Russia which, like the Islamic Republic, is under Western sanctions.

“We want to have long-term economic relations with the Russians. Our plan is to seriously expand economic and technical ties with Russia,” he told the news weekly Seda (Voice) published on Saturday.

“There is political will at the highest level in Iran to expand economic relations with Russia. I also think it is good to develop Iran’s economic ties with Russia, China, India and emerging economic states,” Zangeneh said.

The minister said Iran and Russia plan to cooperate on implementation of development projects and trade of goods, but there are also other areas for business.

“We can work with the Russians to implement railway projects and part of the work in power plants. We can buy some oil equipment and basic goods from the Russians. They have also some technologies in the mining sector.”

Iran and Russia have recently decided to start shipment of the Iranian oil to the market. The arrangement is for Russia to sell 500,000 barrels of Iranian oil per day.

Zangeneh said under the arrangement, Iran is about to get cash and Russian goods and services for the oil which is sold.

On Monday, Russian Energy Minister Alexander Novak said that it was too early to talk about the start.

Russian officials meanwhile retracted their earlier announcement that they had begun grain sales to Iran.

“We are dealing only with phytosanitary security," the RIA Novosti news agency quoted an official at Russia's food-safety regulators Rosselkhoznadzor as saying.

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