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Iran/Russia Oil and Gas Swap Cooperation Underway

OIL

Iran counts on “huge volumes” of oil and gas swaps from Russia this year, according to a RIA interview with the Iranian Economy Minister Ehsan Khandouzi.

  • “This year will witness huge volumes of swap supplies. We are very pleased that Tehran and Moscow have started cooperation on the issue of swap supplies of oil and gas,” Khandouzi said.
  • In the recent comments there was no mention on the size of the swaps but Russia had previously said volumes of around 5 million tonnes of oil and 10 billion cubic meters of natural gas a year.

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