MOSCOW, April 15. /TASS/. Tehran expects to implement the accords reached with Russia following the entry into force of Iran’s free trade agreement with the Eurasian Economic Union (EAEU) on May 15, Hassan Abbaszadeh, Iranian Oil Minister and head of the National Petrochemical Company (NPC), told TASS.

"We hope that starting May 15, when the free trade deal with the EAEU takes effect, many of the agreements reached between our countries will begin to move forward. In terms of gas supplies, Iran’s National Petrochemical Company is ready to continue talks, while as for oil production and oil field development, major Russian companies such as Gazprom are already working in Iran. As [Russian Deputy Prime Minister Alexander] Novak has said, some of the existing contracts will be extended," Abbaszadeh pointed out following the 18th meeting of the Russian-Iranian intergovernmental commission on trade and economic cooperation.

Earlier, Iranian Oil Minister Mohsen Paknejad stated that Iran and Russia were focused on removing trade barriers and increasing trade turnover, a process that would be facilitated by the implementation of the agreements reached by the two countries. Russian Energy Minister Sergey Tsivilyov, in turn, announced that Russian gas supplies to Iran via Azerbaijan over existing infrastructure would begin in 2025, with the initial annual volume to reach 1.8 bln cubic meters. He added that the sides were currently negotiating the price.