21.03.2023, Tehran.
A consensus between Russia and Iran has been reached on using Tehran as a strategic economic hub, Islamic Republic’s Minister of Economy and Finance Ehsan Khandozi said in an interview with RIA Novosti on March 21.
“Although the United States is against Iran becoming a strategic economic hub, Iran and Russia have reached a full consensus on this issue,” Khandouzi told RIA Novosti.
The Iranian politician also said in the interview that Moscow and Tehran have agreed to carry out oil and gas swaps. Therefore, the minister said, in 2023 “we will see a huge volume of swap supplies.”
Swap supplies are barter supplies. They are used in the case of impossibility of direct supplies due to sanctions, high logistics costs and other prohibitions and unacceptable costs of direct supplies. Under swap supplies, countries can “swap” markets to reduce logistics costs, save time and money for customers on delivery speed, or ensure the supply of resources to those markets where direct sales are not possible.
Note that both Russia and Iran have been subjected to a large number of sanctions, mostly by Western states. This has helped Tehran and Moscow get closer to each other, including increased trade between the two countries. Thus, according to the Russian Foreign Ministry on March 13, Russia and Iran reached a record trade turnover.
Source: Rossa Primavera News Agency
