Russia hopes to sign swap deal with Iran for initial 5 mln tonnes oil and 10 bcm gas per year by end-2022

MOSCOW. Oct 6 (Interfax) - Russia hopes to sign a swap deal with Iran for oil and gas before the end of the year.

"We're working on the technical details. The issues are transport, logistics, and the price, and tariff formation. That is, these are commercial contracts that must be worked out in detail. Our economic operators are working in this direction," Deputy Russian Prime Minister Alexander Novak told reporters at the second Caspian Economic Forum.

Novak said he hoped the relevant agreement would be signed before the end of the year. "I'm counting on this, because work is underway. The corresponding interaction is taking place between ministries and companies," he said.

"We think that at the first stage it will be around 5 million tonnes of oil per and up to 10 billion cubic meters of gas per year," he said.