Russia to provide Iran with $5bn credit
Officials in Tehran said on Wednesday that Russia has pledged to issue a credit line of $5 billion for joint projects with Iran.
Mahmoud Vaezi, Iran’s minister of communications and information technology, told reporters that the credit line is expected to usher in a new era in Iran-Russia economic relations.
Vaezi made the comments after a meeting with the visiting Russian Energy Minister Alexander Novak who is heading a 50-member delegation to Tehran for key trade talks.
He further added that Novak is scheduled to hold a series of crucial meetings during his two-day stay in the Iranian capital.
Other officials he will meet include First Vice-President Es’haq Jahangiri as well as Minister of Roads and Urban Development Abbas Akhundi.
Earlier Wednesday, officials from Russia’s Energy Ministry said the country is exploring the possibility of providing Iran with a credit of $5 billion for joint projects.
"The Russian side is considering a request from Iran for receipt of a credit of $5 billion for the construction, by Russian companies, of infrastructure, transport, geological exploration and other facilities," a representative from the ministry said.
Novak arrived in Tehran on Wednesday to discuss bilateral ties particularly the expansion of mutual cooperation in the area of oil industry.
Officials said before his visit that he will discuss Iran-Russia cooperation in energy field as well as such major topics as the situation of global oil prices and cooperation between OPEC and non-OPEC oil producing countries during his stay in Tehran.
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