Iran is ready to enter barter arrangements with Russia, offering car parts and gas turbines in exchange for steel, Press TV reported citing Iranian trade and industries minister Reza Fatemi Amin.
Speaking on the sidelines of a Russian-Iranian joint economic and trade cooperation commission meeting, the minister said the Islamic Republic may use barter arrangements to obtain raw materials necessary for the country’s metals and mining industries. The country needs zinc, aluminum, lead and steel, he said.
In return, Iran can supply car parts and gas turbines to Russia, Amin said.
In his words, the sides also agreed on deliveries of spare parts and repairs of turbines used by Russian power plants. Apart from that, the countries agreed to study options of barter deals on a wide range of commodities and raw materials.
Russian Deputy Prime Minister Alexander Novak arrived in Iran on a working visit on May 25.