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Russia may switch to settlements in national currencies with Iran - Novak

November 18, 2018, 14:16 UTC+3 MOSCOW

Moscow will continue seeking mechanisms for cooperation, Russian Energy Minister added

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Russia’s Energy Minister Alexander Novak

Russia’s Energy Minister Alexander Novak

© Sergey Bobylev/TASS/

MOSCOW, November 18. /TASS/. Russia may launch settlements with Iran in national currencies in order to continue bilateral cooperation despite the US sanctions against Tehran, Russian Energy Minister Alexander Novak said in an interview with the Anadolu news agency on Sunday.

"We do not recognize [the US sanctions against Iran], which were introduced unilaterally without the approval of the United Nations Security Council. We will continue seeking mechanisms for cooperation, and one of them is the settlements for supplied goods in national currencies," Novak said.

According to Novak, who also co-chairs the Russian-Iranian intergovernmental commission, this step will enable Moscow to develop cooperation with Iran.

"This is not a new situation for us when sanctions are introduced against Iran. Until 2015, when they were lifted, we had cooperated with Iran and developed trade and economic cooperation," Novak stressed.

The first round of new US sanctions on Iran took effect on August 7, targeting Iran’s automotive sector, trade in gold and other metals. The second round of sanctions, including against the Iranian oil sector, came into force on November 5.

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