Russia partially solves problems for purchasing Iran’s oil

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    Trend:Iranian Oil Minister Bijan Namdar Zanganeh has said that his country is ready to sell oil to Russia.

    “We have no problems [about exporting oil to Russia], they [Russians] should take the required measures,” IRNA news agency quoted Zanganeh as saying.

    Bijan Namdar Zanganeh added that the Russian side had bank-related issues, but the problems have partially been solved an a leading Russian bank is expected to open letter of credit (LC) for oil purchasing from Iran.

    He further spoke about plans on swapping the Caspian Sea oil through Iran and said his country in collaboration with international companies buys Turkmenistan’s oil.

    According to the minister, the existing contracts on the oil swap are designed for six-month and one-year periods.

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