Azernews.Az

By Kamila Aliyeva

Iran and Russia are expected to sign 11 documents during an upcoming visit of Iran’s President Hassan Rouhani to Moscow, said Mahmoud Vaezi, minister of ICT and head of the joint Iran-Russia economic committee.

The minister said the documents include 10 agreements in various fields and one general agreement on long-term cooperation, IRNA news agency reported on March 15.

Vaezi further mentioned that the sides seek to operationalize an energy agreement whereby Iran will export 100,000 bpd of oil to Russia within the oil for goods barter deal.

Earlier, Russian Energy Minister Alexander Novak stated that Russia and Iran are considering realization of joint projects in the industry sector for a total of $10 billion.

Ahead of Rouhani’s upcoming visit to Moscow, First Vice President Es’haq Jahangiri on February 21 called for finalizing preparations for inking an agreement between the Islamic Republic and the Eurasian Economic Union (EEU), which includes Russia as well, on the creation of a free-trade zone.

Presumably, a high-level meeting of the presidents of Russia and Iran will be held on March 28.

The trade turnover between Iran and Russia witnessed a surge by 60 percent in 2016, climbing to about $2 billion. However, observers believe that the surge in trade between the two countries, which came after the nuclear sanctions on Iran were removed, has not satisfied the expectations.

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Kamila Aliyeva is AzerNews’ staff journalist, follow her on Twitter: @Kami_Aliyeva

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