Russia’s VEB is drafting agreement with Central Bank of Iran on €2 bln loan

Energy projects in Iran will be distributed mainly by tender, but Russia counts on preferences.

Russia’s state-owned bank VEB is drafting an agreement with the Central Bank of Iran on €2 bln loan, Russia’s Energy Minister and co-chairman of the Russian-Iranian intergovernmental commission Alexander Novak said on Thursday.

"Management of Vnesheconombank said an agreement is under preparation between VEB and the Central Bank of Iran on an export credit in the amount of €2 bln," Novak said.

Projects in Iran will be distributed mainly by tender

According to the minister, projects in Iran will be distributed mainly by tender. However Russia counts on preferences, he added.

Russia's Zarubezhneft is interested in developing the Shangule oilfield in Iran.

Rostec’s subsidiary to take part in implementation of energy projects in Iran

Technopromexport, the subsidiary of the Russian state-owned Rostec corporation, will take part in implementation of energy projects in Iran. The relevant agreement was signed on Thursday after the meeting of the Russian-Iranian intergovernmental commission in Moscow.

The agreement provides for implementation of energy projects in Iran, particularly power generation at steam thermal power plants of Iran.

TASS reported earlier Technopromexport signed an agreement of intent with Iranian Tavanir on cooperation in electric power sector. Construction of pen power units with the total capacity of nearly 3,000 MW, power transmission line and substation is the case in point.

Russia and Iran discuss settlements in national currencies

Alexander Novak also said Russia and Iran are discussing an opportunity of making payments in national currencies

"We are looking for different instruments making possible to finance projects," the minister said. "I mean use of national currencies, development of trade and balance that will enable forming sources for mutual settlements," Novak added.

Russia and Iran may increase goods turnover to $10 bln in nearest future

The official considers it possible to increase the goods turnover between Iran and Russia to $10 bln in the coming future.

"I think we may reach $10 bln in the nearest future. We have a project in nearly every field," the minister said.

First published by TASS.

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