Oil Minister: Iran ready to make privileges in pay-back oil contracts
Azerbaijan, Baku Aug. 27 / Trend, N. Umid /
Iran is ready to make privileges in pay-back contracts for developing oil sector, Iranian Oil Minister, Bijan Namdar Zanganeh said, Iranian IRIB1 State TV reported.
Iran plans to do some structural changes in oil contracts to attract contractors, he added.
Zanganeh went on to note that, the privileges will be made towards oil and gas projects in Caspian Sea as well as Zagros and South Pars.
The U.S. and the EU have imposed sanctions on Iran's oil export and banking system, as a result of which Iran started experiencing problems with exports of oil and receiving petrodollars.
Each country is currently allowed to deposit the money for importing Iranian crude oil using its national currency to a bank account in the same country. Iran is allowed to use the money for importing certain goods only from that country.