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Russia, Iran Continue Oil, Gas Supply Swap Talks

OIL

Russia and Iran continue discussions to negotiate a swap of oil and gas supplies, Russian Deputy Prime Minister Alexander Novak said.

  • Discussions have been ongoing for more than one year and agreements were previously expected to be reached by end of 2022. Novak said that at the first stage, volumes should reach about 5mn tons of oil and 10bcm of gas per year.
  • "We are still discussing it, since in many ways it depends not only on the country with which the swap is being made, but also on issues of logistics, transportation and so on," Novak said.

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