Novak: Russia, Iran to prolong oil supplies deal

Economy | Politics 4/17/2018, 7:17 PM
Novak: Russia, Iran to prolong oil supplies deal

Russian Energy Minister Alexander Novak stated on Tuesday that his country is willing to prolong the existing deal on oil supplies with Iran for another five years, TASS reported. The Russian official added that Moscow is working hard on drafting the oil-for-goods agreement extension, adding that for now, the deal is prolonged until the end of this year.

"The agreement is valid, it has been extended [until the end of 2018]. The first delivery already happened; now, the next deliveries are being organized. But in general, we believe that it should be extended for five years," stated Novak.

The first delivery of oil from Iran under the program was carried out in November 2017. Earlier in March, the Russian oil minister noted that the "oil in exchange for goods" program will continue into 2018. Novak said that Russia was in negotiations with end buyers of Iranian oil and noted that Moscow aims to deliver 5 tons of oil per yer.

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