Russia holding talks with Iran to increase trade

Russia is holding talks with Iran to increase trade turnover based on energy cooperation, Russian Energy Minister Aleksander Novak said.“Last year the 10th session of the intergovernmental commission was held in Moscow. The parties discussed different variants to increase trade turnover and search for a financial scheme, which would allow our companies to supply products to Iran – metallurgy, machine-building and energy equipment,” Novak said, reported Itar-Tass news agency.“Both parties considered Russia’s participation in constructing power and developing deposits. We seek to increase trade turnover and expand the presence of our companies on the Iranian market,” the minister said.“This will give a possibility to develop and restore our trade at the level before sanctions were imposed. Thus, this issue is pressing,” he said.At present, trade turnover with Iran is decreasing. In 2013 it was reduced by 31.5 percent and reached 1.59 billion dollars. Russia’s export dropped by 38.6 percent and amounted to 1.16 billion dollars. The decrease was conditioned by tightening economic sanctions against Iran.