Iran interested in swap transactions with Azerbaijan

Iran is interested in the organization of swap transactions on oil products with Azerbaijan, the Iranian Minister of Communications and Information Technology, Mahmoud Vaezi, said.

"The agreement enables both sides to take concrete steps towards the organization of swaps on oil products," Vaezi said, noting Iran's interest in the investing in the Caspian Sea oil and gas projects in Azerbaijan, abc.az reports.

The representative of the State Oil Company of Azerbaijan (SOCAR) did not rule out the framework agreements with Iran swap transactions, but noted that it requires time.