“The contract to sell a cargo of one million barrels of crude oil to Hungary next month was finalized,” Qamsari said on Saturday as quoted by Shana.
Iran exports about 2 million barrels of its daily output of 3.8 million and has regained almost all of the market share it held before termination of the anti-Tehran sanctions.
Tehran and Budapest have worked to enhance bilateral ties since Iran and the Group 5+1 (Russia, China, the US, Britain, France and Germany) on July 14, 2015 reached a nuclear agreement known as the Joint Comprehensive plan of Action (JCPOA).
In November 2015, eight cooperation documents were signed in a ceremony attended by Iran’s First Vice-President Eshaq Jahangiri and Hungary’s Prime Minister Victor Orban in Tehran.
A document on political consultation and cooperation between Iranian and Hungarian ministries of foreign affairs, a Memorandum of Understanding (MoU) on avoiding additional taxation and preventing tax evasion, and an agreement on economic cooperation were among the documents signed by the two countries.