30 July 2016 - 19:29
  • News Code: 266024
Vaezi: Iran’s Oil Output to Reach Pre-Sanction Level Soon

TEHRAN, July 30 (Shana) – Iran’s Minister of Communications and Information Technology Mahmoud Vaezi says Iran’s oil production is expected to reach the level prior to sanctions in the near future.

Speaking to a reporter, Vaezi focused on a meeting with his Russian hosts and said the talks touched on mutual economic and commercial relations, including talks on oil production worldwide in April.

“Market condition is not yet clear; prices now concord with our expectation of $45/b but maintaining equilibrium is delayed and we hope conditions will be back to normal in 2017.”

Vaezi, who returned home on Friday after a four-day visit to Russia, made the remark after a meeting with Russian head of joint economic commission Alexander Novak.

Before going to Moscow, Iranian communication minister visited Russian city of Astrakhan.

Currently more than 200 Iranian companies are active in Astrakhan and the region has turned to be a hub for Iranian businessmen in Southern Russia.

During his 4-day visit to Russia, Vaezi, in addition to talks with Astrakhan officials, discussed expansion of cooperation with Trade Minister of Eurasia Economic Union Veronika Nikishina and negotiated process of free trade treaty between Iran and the Union.

Eurasia Economic Union includes five countries of Russia, Belarus, Kazakhstan, Kyrgyzstan, and Armenia with a population of more than 180 million, which could be a large market for Iranian exports.

Vaezi met with Russian Minister of Communications and Mass Media Nikolai Nikiforov, Minister of Industry and Trade Denis Manturov and Minister of Energy Alexander Novak, who is head of the Russian side of permanent joint commission of economic cooperation.

News Code 266024

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