Russian Energy Minister Alexander Novak said that Russia was negotiating the increase of trade turnover in the energy sector with Iran, ITAR-TASS reports.
Moscow hosted the 10th session of an inter-government commission in early 2014 to discuss shipments of products of metallurgy, engineering and energy industry. Russia wants to build power plants in Iran and develop oil and gas fields.
Trade turnover between Russia and Iran dropped by 31.5% to $1.59 billion in 2013. Russian exports dropped by about 38.6% to $1.16 billion due to US and EU sanctions imposed on Iran in mid-2012.
Russia plans to trade products for 20 million tons of oil a year. Iranian Ambassador to Russia Mehdi Sanai confirmed readiness to export oil to Russia on February 17.
