Iran prepares oil swap proposal for Kazakhstan

Business Materials 11 July 2015 15:58 (UTC +04:00)

Tehran, Iran, July 11

By Mehdi Sepahvand - Trend:

With an eye to the situations in the port cities of Neka (Iran) and Aktau (Kazakhstan), Iran is preparing new oil swap proposals for Kazakhstan.

Iran is going to offer its choice in an upcoming oil show in Aktau, the CEO of Iran Oil Terminals Company (IOTC) said July 11.

Pirouz Mousavi noted that the two ports have very special positions and can be of great use in boosting oil products trade between the two countries, according to the IOTC website.

Iran is taking steps to resume its previous swap of oil products with the neighboring country.

Tehran attempts to do business with other countries while the country has not yet reached a deal with the West. The deal is necessary to remove sanctions from Iran and allow it to do business with the world.

Iran and the group P5+1 (the US, UK, France, Russia, China, and Germany) have to reach a deal on the country's nuclear case until July 13, whereby sanctions on the Islamic Republic would be lifted.

One of the unique advantages is that in Aktau, there are no import or export tariffs for Iranian businessmen.

The port also envisages an easy access to other port cities in Russia, Azerbaijan, and Turkmenistan.

Furthermore, it gives an access via Volga-Don Canal to the Black Sea and the Mediterranean.