Zanganeh, Novak sign oil accord

TEHRAN, Aug. 06 (MNA) – Iran and Russia’s oil ministers have signed a new accord for the next five years.

Alexander Novak said on Tuesday that under the terms of a five-year accord, Russia would help Iran organize oil sales as well as “cooperate in the oil-gas industry, construction of power plants, grids, supply of machinery, consumer goods and agriculture products”, according to a statement by the Energy Ministry in Moscow. Russian minister of energy said that a new statement over this issue would be published later.

Iran and Russia resumed new round of oil talks and agreed on an oil accord worth of $20bn. Late on March, Iranian and Russian oil ministers sat in Moscow as world two gas giants to discuss cooperation and managed to sign an agreement on oil and economy.

In the new round, Russia’s Alexander Novak attended the meeting behind closed doors in Tehran with his Iranian counterpart and the head of Iranian Melli Bank to discuss different issues.

Iran’s Minister of Energy Hamid Chitchian and Alexander Novak decided to barter crude oil for electricity.

Iran and Russia had discussed three times the oil bartering agreement in Moscow, and it is likely that they solved the discord on the way of a great oil deal between Tehran and Moscow.

By Mehr News Agency

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