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Moscow, Tehran to discuss agreements on oil supplies to Russia

Russia and Iran will discuss the agreements between the countries on daily supplies of 100,000 barrels of Iranian oil

MOSCOW, March 13. /TASS/. Russia and Iran will discuss the agreements between the countries on daily supplies of 100,000 barrels of Iranian oil to the Russian Federation in detail later in the day, Iran’s Minister of Communications and Information Technology Mahmoud Vaezi said at a meeting with Russia’s Energy Minister Alexander Novak on Monday.

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Russian companies to invest $35-40 bln in Iranian projects

"We’ve agreed daily supplies of crude oil totaling 100,000 barrels [to Russia - TASS] and already discussed the issue in general," he said.

Earlier Novak said that Moscow and Tehran may agree the terms of Russia’s purchases of Iranian oil in the nearest future. The issue is about either physical deliveries or swap supplies of Iranian oil, the Minister said.

Iran’s Oil Minister Bijan Namdar Zanganeh said following a meeting with Novak on February 21 that Tehran is ready to make an agreement on supplies of 100,000 barrels of crude oil per day to Russia within the next 10-15 days.

The ministers also discussed potential ‘oil-for-goods’ swaps at the meeting, as well as the progress in implementing the oil production cap agreement.

Novak also said Russia is negotiating the issue of daily purchases of 100,000 barrels of oil from Iran, and the sides are "discussing the terms" of the potential agreement. The issue is about submitting amendments to the memorandum (on oil-for-goods swaps - TASS) signed by the two countries in 2014, the Minister said.

According to Novak, oil purchases from Iran may be executed by Russia’s federal state unitary enterprise Promsiryeimport.

Russia and Iran are discussing contracts totally worth $10 bln, Novak added.

"The range is huge. We discussed [contracts - TASS] totally worth around 10 bln dollars today."

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