Azerbaijan, Baku, May 1/Trend M. Moezzi
Iran has signed a 1.6 billion euro contract with a Spanish oil company, Mehr news agency reported on Tuseday.
Mehr didn't disclose the Spanish company's name.
The contract comes at a time when Iran is being punished by tough international sanction against its oil industry. The agreement is for financing the manufacture of some oil industry-related parts and equipment. Iran's Society of Iranian Petroleum Industries Equipment Manufacturers (SIPIEM) signed the contract with the Spanish company. SIPIEM has signed another similar contract with a Chinese company.
The international community has imposed heavy sanctions against Iran over its nuclear program, which Iran says is peaceful.
According to Mehr, two other contracts are scheduled to be signed with other European Companies.