Young Journalists Club | Latest news of Iran and world

News ID: 4168
Iran » Iran
Publish Date: 13:52 - 15 May 2014
Tehran, YJC. Iran’s energy ministry says the country and Russia may barter oil and electricity.

New round of talks between Iran and Russia has begun to make a deal in oil as the Oil Minister of the Islamic Republic of Iran Bijan Zanganeh made a trip to Russia.

The deal is going to worth $20 billion dollars.

Zanganeh and his Russian counterpart had said last year that problems were being resolved for the two countries to sign their biggest mutual contract in history.

In the meantime the Russian Minister of Energy has stated that initial agreements are being made for the two countries to sign a contract worth 8 to 10 billion dollars on constructing power plants, power grids, and maintenance measures.

Vice Chancellor of Iran’s Energy Minister Esmail Mahsouli recently said that Russia is going to fund part of Iran’s power plant consturction projects, adding that the funding "can comprise part of the oil-goods barter between the two countires. The details and final volume of the Russian fund will be decided in furhter talks.”

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