Russia signs contract with Tehran on resale of Iranian oil

Iran and the Russian Ministry of Energy signed a contract on the supply of Iranian oil to world markets through Promsyryeimport foreign trade organization belonging to the Ministry of Energy of the Russian Federation, as reported by Interfax.

According to the Iranian Minister of Oil, Bijan Namdar Zangeneh, the first oil tanker under this contract was sent in mid-November.

Russian Energy Minister, Alexander Novak, told Bloomberg that until the end of 2017, sales under this deal will be limited to one tanker.

RBC news agency reports that the representative of the Ministry of Energy of Russia has not responded to the request for comment.

In June, Vagit Alekperov, the head of LUKOIL oil company, said that the company is ready to invest in the Iranian oil and gas industry, but expects the changes in legislation promised by the government, since there are a number of risks.

In February, the head of the Ministry of Energy, Alexander Novak, said that the department is considering the purchase of 100,000 barrels per day from Iran. According to him, the authorized organization to execute this contract is Promsyr'yeimport.

  Iran, Russia, Oil