Russian minister to Iran for trade talks in April

Photo: Russian minister to Iran for trade talks in April / Iran

Russia's economy minister will visit Iran in April to discuss a broad range of trade issues, he said on Wednesday, following reports from Tehran of a possible barter deal involving Iranian oil exports, RIA Novosti reported.

"The trip will probably happen - it won't be in March but at the end of April," the minister, Alexei Ulyukayev, was quoted by state news agency RIA as saying.

Ulyukayev was responding to an Iranian report last weekend that he would visit Tehran on March 21, carrying a proposal to exchange Iranian oil for railway construction work.

Iran's Fars news agency reported on Feb. 9 citing Russian ambassador to Tehran Levan Jagarian, that Ulyukayev will visit the Islamic Republic on March 21 with a proposal to swap Iranian oil for construction of railways.

Reuters reported in mid-January that Russia and Iran are discussing a deal to swap about 500,000 barrels of Iranian oil for Russian goods and equipment, and plan to sign it soon.

Iran's ISNA news agency reported on Jan. 4 citing Russia's ambassador to Tehran Levan Jagarian, that if Iran is able to offer favorable conditions, Russia is ready to invest in the country's oil and gas sector.

The ambassador noted that good conditions in Iran's oil and gas sphere may allow more Russian companies to participate in various projects there.

The development of Iran's oil and gas sector has been slow due to imposed international sanctions on Iran, for its disputed nuclear program.

The companies previously working in Iran, expressed interest in returning to Iranian market, if the sanctions are lifted.

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