Russia Negotiating Oil, Gas Swap Deals with Iran: Novak

Russia Negotiating Oil, Gas Swap Deals with Iran: Novak

TEHRAN (Tasnim) – Russia and Iran continue to negotiate oil and gas swap agreements, the Russian deputy prime minister announced.

"The issue is at the discussion stage as it is largely tied not only with the country, with which swap is made, but also the logistics, transportation and other issues. As we know there is a memorandum of understanding inked between Russia's Gazprom Company and the National Iranian Oil Company," Alexander Novak told reporters.

Russian firms are still interested in participating in the oil and gas projects in Iran, with the issue being developed and the conditions being analyzed, he added, according to TASS.

The parties also continue negotiating the potential creation of a joint electronic gas trading platform, Novak added.

In November 2023, Novak said talks were ongoing with Iran on the plans for oil and gas swap deals as the two countries eye closer cooperation to counter the foreign sanctions imposed against their energy exports.

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