Russia, Iran view options for increasing trade turnover

Photo: Russia, Iran view options for increasing trade turnover / Iran

Baku, Azerbaijan, April 25

By Emil Ismayilov - Trend:

Russia and Iran view various options for increasing their trade turnover considering the significant reduction in its volume, Russian Energy Minister Alexander Novak told journalists in Baku on April 25.

Novak made the remarks while answering the question about reaching an agreement on supply of Iranian oil in exchange for $20 billion worth of Russian equipment.

Russian minister pointed out that the trade turnover between the two countries has decreased as a result of the sanctions imposed on Iran by the U.S. and the European Union, as well as by the UN Security Council.

Russia is also guided by the sanctions of the UN Security Council imposed on Iran, according to Novak.

"Therefore, the trade turnover between Russia and Iran is much lower than it was before. Nevertheless, together with Iran, we view various mechanisms of improving our trade turnover and try to find mutual settlement mechanisms," Novak said.

The next meeting of Russia-Iran intergovernmental commission will be held in September, Novak said.

This meeting will address the issues regarding the increase of the trade turnover between the two countries, according to the minister.

From the Russian side, the commission is headed by Novak himself.

Translated by L.Z.

Edited by : S.I.

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