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Russia mulls supplying grain to Iran in exchange for oil

September 09, 2014, 17:30 UTC+3
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TEHRAN, September 9. /ITAR-TASS/. Russia is studying a possibility of supplying grain to Iran in exchange for oil, United Grain Company (UGC)’s First Deputy CEO Andrei Gormakh said at a business forum of both countries on Tuesday.

“We hope that this plan will be approved. United Grain Company may annually supply up to 2 million-3 million tonnes of grain to Iran, while that country’s grain market capacity is 5.7 million tonnes,” Gormakh said.

Separately, Russian Energy Minister Alexander Novak said at the forum that domestic automobile vehicle manufacturers Kamaz, GAZ, UAZ, as well as tank and railway equipment maker Uralvagonzavod and agricultural equipment maker Rostselmash are interested in supplies of their products to Iran and in establishment of joint ventures, including assembling ones, with local companies.

Novak also said that companies of Russia and Iran may start cooperation in new spheres, such as nanotechnologies, electronics and radio electronics.

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