Trade Desk
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RT reported this news on Iranian media ISNA.
Western nations have forced sanctions on both Russia and Iran. In the mean time, the two nations are quickly expanding their energy and exchange relations. Notwithstanding Western endorses, the current trade understanding between the two nations is going about as a support to stay away from a monetary emergency. Aside from this they are additionally utilizing direct exchange joins through the Caspian Ocean.
As of late, Iran’s Delegate Unfamiliar Pastor Mahdi Safari said, ‘We are making an agreement with Gazprom worth 6.5 billion bucks. Ideally, this understanding will be endorsed one month from now. It is right now being talked about.’
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Earlier in July, National Iranian Oil Company and Gazprom agreed to cooperate with each other in the development of two gas deposits and six oil fields. The agreement covers exchange of gas and oil products between the two countries, implementation of LNG projects and construction of gas pipelines.
Meanwhile, in early October, Russian Deputy Prime Minister Alexander Novak announced that Moscow and Tehran could agree to a deal of 5 million tons of oil and 10 billion tons of gas, which would be completed by the end of this year.
On November 1, Novak said, “In the meantime, Russia and Iran have started trading energy resources, especially petroleum products.” Apart from this, the list of business product transactions is also growing.
He said that Russia’s investment in Iran’s oil fields will increase.
Prior in July, Public Iranian Oil Organization and Gazprom consented to help out one another in the improvement of two gas stores and six oil fields. The understanding covers trade of gas and oil items between the two nations, execution of LNG undertakings and development of gas pipelines.
In the mean time,
toward the beginning of October, Russian Representative State leader Alexander Novak reported that Moscow and Tehran could consent to an arrangement of 5 million tons of oil and 10 billion tons of gas, which would be finished before the current year’s over.
On November 1, Novak said, “Meanwhile, Russia and Iran have begun exchanging energy assets, particularly oil based commodities.” Aside from this, the rundown of business item exchanges is likewise growing.He said that Russia’s interest in Iran’s oil fields will increment.
In December, Iran expects to sign an energy agreement with Russian gas giant Gazprom worth around $40 billion, a senior Iranian diplomat was quoted as saying on Wednesday.
“We have concluded an agreement worth about $6.5 billion with Gazprom. We hope that the remaining agreements totaling to $40 billion will be signed next month. The negotiations are currently ongoing,” said Mahdi Safari, Iranian Deputy Foreign Minister for Economic Diplomacy, as quoted by the ISNA news agency of Iran.
The agreement comes as Russia and Iran are expanding bilateral cooperation and energy and trade ties, united by a common goal of using each other to offset Western sanctions.
Earlier this week,
Russia and Iran agreed to sign a free trade agreement with the Eurasian Economic Union, Russian Deputy Prime Minister Alexander Novak said on Tuesday.
“We have also agreed to remove all barriers that exist today on the way of developing bilateral trade. And we are talking about reducing barriers at the borders with third countries. We have agreed to conclude an agreement on a free trade zone between Iran and the Eurasian Economic Union in the near future,” Novak said at a Russia-Iran forum.
Also on Tuesday, Novak said that Russia had started deliveries of oil products to Iran under swap deals. Russian-Iranian relations – both economically and geopolitically – are of strategic nature, Novak added.
Iran’s Petroleum Minister Javad Owji said at the bilateral forum that the public and private sectors in both countries are looking to “neutralize the sanctions.”
“There is now a strong will in the public and private sectors of both countries to neutralize the sanctions,” Owji was quoted as saying by the oil ministry’s news service Shana.
Russia’s Novak, for his part, said that “The amount of Russian investment in Iran’s oil fields will increase.”
By Michael Kern for Oilprice.com