The cooperation between Iran and Russia in field of oil trade will not be based on barter, the both sides still discuss the agreement, Mokhsen Kamsari, chief of the international affairs department of the State National Iranian Oil Company, said in his interview to ICNA.
Kamsari also added that the Russian side will buy and export Iranian oil and the earned funds will be used by Iran to buy required products around the world.
ICNA agency reported that earlier Iranian Oil Minister Bijan Namdar Zangane also refuted the reports that the oil deal with Russia will not be barter based.
The talks between Russia and Iran on purchase of Iranian oil by the Russian companies started in early 2014. Oil from Iran will be delivered through the Caspian ports. The technical possibilities of the Iranian Caspian terminals allow exporting 500,000 barrels of oil a day.
According to some media the approximate size of the deal is $10 billion.—0—
Economics
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On July 26, the Ministry of Economy hosted a meeting with entrepreneurs from the non-oil industry to explore ways to stimulate local production and enhance export potential.
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Azerbaijani internet service providers Aztelekom and Baktelekom will introduce substantial changes to their pricing structure starting August 15, the companies announced today. Under the new tariffs, the minimum internet speed will rise to 100 Mbit/s, with the cost per Mbit/s decreasing from 0.45 AZN to 0.25 AZN. As a result, monthly charges will be set at 25 AZN for 100 Mbit/s, 30 AZN for 150 Mbit/s, and 36 AZN for 250 Mbit/s.
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Independent experts suggest that Azerbaijan may be on the verge of another devaluation of its currency, the manat, due to a shrinking trade and payment surplus. The anticipated economic adjustments come amidst a decline in foreign currency inflows and reduced oil production.
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Azerbaijan’s Foreign Minister Jeyhun Bayramov met today with Ahmed Moallim Figi, the Minister of Foreign Affairs and International Cooperation of Somalia, at the Azerbaijani Foreign Ministry. This meeting followed a discussion held the previous day between Figi and Azerbaijan’s Economy Minister Mikail Jabbarov.
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