Iran hopes for ‘huge volumes’ of swap supplies of oil, gas from Russia in 2023 – Minister

Insight Online News

Tehran, Mar 21 : Iran hopes for “huge volumes” of swap supplies of oil and gas from Russia this year, Iranian Minister of Economic Affairs and Finance Ehsan Khandouzi said in an interview with Sputnik.

“In a very short period of time, some of Iran’s neighboring countries have caused a slowdown in swap supplies between Russia and Iran. This issue has been resolved, so this year we will witness huge volumes of swap supplies. We are very pleased that Tehran and Moscow have begun cooperation on the issue of swap supplies of oil and gas,” Khandouzi said.

In February, Russian Deputy Prime Minister Alexander Novak said Russia and Iran keep working on issues of swap operations with oil and gas. Talks on routes and mechanisms for implementation of swap supplies of oil and gas were conducted back in October 2022, then the sides planned to sign a relevant deal by the year end. According to Novak, at the first stage it may stipulate 5 million tonnes of oil per year and up to 10 billion cubic meters of gas.


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