Baku, Azerbaijan, Oct. 22
Russia and Iran are discussing the possibility of concluding swap (exchange) oil and gas contracts, but there is no final decision yet, Russian Energy Minister Alexander Novak told RIA Novosti.
"We were discussing the possibility of concluding swap oil and gas contracts during the talks with the Iranian side," he said. "In particular, a proposal of receiving the crude oil, gas and oil products from Russia in the north of Iran and supplying the equivalent volume of oil, gas and oil products produced in Iran to the Russian contractors through the ports and terminals in the south of Iran is being considered."
He said that the final decision on this issue has not been taken.
Novak is a co-chairman of the Russian-Iranian intergovernmental commission. He is currently on a visit to Iran.
"Russia and Iran can establish a bank that will finance the joint projects," Novak said.
Edited by CN