Russian Energy Minister Reports of Joint Bank with Iran

Russian Energy Minister Reports of Joint Bank with Iran
The Russian Energy Minister, referring to Dr. Vaezi’s request for establishment of a joint bank by the two countries, stated that: “Through the presentation of appropriate programs, a $5 Billion Line of Credit will be established, positively impacting our trade volume.”

The Ministry’s Public Relation Center reports that in today’s meeting, hosted by the Communication Minister, and titled ‘Session of Iran-Russia Joint Economic Commission for Coordination of Infrastructure Projects’, Alexander Novak, the Russian Energy Minister, addressed the session by thanking the Iranian delegation and his counterpart, and stated: “I am grateful to have the opportunity to introduce and present major Russian companies, and I’m glad that Iran has provided this opportunity for us; it is our hope and wish that our bilateral cooperation can be increased and developed as much as possible.”

Novak added that: “Iran is Russia’s greatest economic and trade partner, therefore with the existing great potential for cooperation between the two countries, major economic objectives can be achieved; and Iran is actually the corridor which connects us with other continents, a relationship that has a historical background and is based upon common frontiers and being neighbors.”

Head of the Russian delegation, emphasizing on the development of bilateral negotiations after the nuclear deal, added that: “Today we have begun a new stage of cooperation where international relations must also be strengthened. It should be mentioned that Russian companies are highly interested in entering Iran’s market, and some of their high ranking officials are present in this delegation.”

Presenting the firms accompanying the Russian delegation, he included: “These companies consist of 8 major oil and gas firms, including the general managers and directors of Gazprom, Zarubezhgeologia, Rosneft, Gazprom Neft, Surgutneftegas, Bashneft, Rusneftegaz, Rosgeologia, and also the director of the Central Bank of Russia.

Novak Emphasized that: “The Current trade volume of more than $1 Billion is not enough; there are huge capacities which can be developed through the appropriate infrastructure we have established, and we are hoping for an increase in the existing trade volume.”

He concluded by stating that: “We wish to inaugurate the $5 Billion Line of Credit by offering appropriate plans, thus facilitating the establishment of an Iranian-Russian Joint Bank. The next round of talks will take place in Moscow this November and we hope that by that time, we have managed to achieve our desired outcomes.”

Nov 14, 2015 11:53


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