Baku, Azerbaijan, Dec. 4
By Fatih Karimov– Trend:
Hungary is interested in boosting oil purchase from Iran in the future, Hungary’s Minister of National Economy Mihaly Varga said.
The visiting Hungarian minister made the remarks after a meeting with Iran’s oil minister, Bijan Namdar Zanganeh, Dec. 4, the oil ministry’s official website reported.
The Hungarian multinational oil and gas company MOL has already received a 1-million barrel oil shipment from Iran after removal of international sanctions against Tehran in 2016.
Negotiations for crude export to Hungary were launched in early 2016. In mid-July 2016, Iran said MOL had called for importing 40,000 barrels of light crude oil per day from Iran. However, at the time, Tehran was not ready to provide MOL with light crude.
The Hungarian minister further said that Iran and Hungary are determined to facilitate banking ties.
There is no obstacle to reviving the pre-sanctions banking ties between Tehran and Budapest, Varga added.
Varga, who is in Tehran for an official visit, held meetings with senior Iranian officials, including his counterpart, Masoud Karbasian.
Four memorandums of understanding for cooperation in various sectors, including manufacture of hybrid cooling systems, electric vehicles, electric rail equipment and buses were signed between Iranian and Hungarian entrepreneurs during the visit.
The Hungarian minister said mutual trade between his country and Iran has witnessed a twofold increase in post-sanctions era.