Export of Iranian oil to Russia

Export of Iranian oil to Russia

Iran’s oil exports to Russia will begin soon, the Minister of Oil announced the expansion of oil cooperation between Iran and Russia and said: “In the next two weeks and by signing an agreement, we will export 100,000 barrels of crude oil per day to Russia.”

According to IRNA from Shana, Engineer Bijan Zanganeh announced on Tuesday evening, March 20, after meeting with Russian Energy Minister Alexander Novak, that the two countries would soon sign an agreement to start exporting Iranian oil to Russia.

According to Zanganeh, according to the agreement, which will be finalized within the next two weeks, 100,000 barrels of Iranian crude oil will be delivered to Russia daily and exported to the destinations announced by this country. The oil minister added: 50% of the value of the cargo These exports will be paid in cash to Iran at specified times, and the rest will be used to finance the import of Russian goods needed by Iran.

Zanganeh also praised Russia’s constructive role in the historic OPEC deal, saying that Russia is a member of the non-OPEC Ministerial Market Monitoring Committee, which in turn is committed to reducing its production by 300,000 barrels per day.