Russian Oil Minister Says to Help Iran Sell Oil

Posted by Eric Haun
Tuesday, August 05, 2014

Russia will help Iran to arrange shipments of its oil to markets, Russian Energy Minister Alexander Novak said on Tuesday.

"Based on Iran's proposal, we will participate in arranging shipments of crude oil, including to the Russian market," he said in a statement after signing a five-year memorandum of understanding with his Iranian counterpart Bijan Zanganeh in Moscow.

Neither Novak nor the memorandum gave any details on timing or possible volumes. Novak said the deal between the two sanction-hit countries would not violate international obligations.

(Reporting by Katya Golubkova; Editing by Erica Billingham)

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