Russia planned credit to Iran finalized: Official
Russia’s planned $2.3-billion credit line for financing two development projects in Iran has been finalized, a top Iranian official says.
Iran’s deputy minister of economy, Mohammad Khazaee, told Fars news agency that he has discussed the issue with Russian economic officials.
“During these talks, an agreement was reached on how the Russian government’s $2-billion credit would be paid to Iran,” he said.
Khazaee said the credit would fund a railway project in northern Iran and a thermal power plant in southern Iran.
“This credit will be reimbursed over ten years with a 3-year grace period at the start of the reimbursement procedure,” he said, adding that the interest rate on this loan would be below 5%.
Iran has completed the preparations for establishing a joint bank account with Russia to facilitate trade between the two countries in their own currencies.
Last March, Iran and Russia signed a basic agreement to create a joint regulation body to oversee interbank financial transactions between the two countries.
The agreement - that was signed between the Iranian and Russian central banks – took both countries one step closer toward the establishment of the promised joint bank - which is believed to have been specifically designed to help dodge the effects of US-led sanctions on the two countries.
Iran says $2bn of frozen assets released by neighboring country
US issues new sanctions targeting Iran’s defense projects
Iran sets decade-long plan to raise oilseed self-sufficiency
VIDEO | Sudan’s healthcare system nears collapse amid conflict
VIDEO | Gazans struggle to survive as they welcome New Year
VIDEO | Saudi-UAE rift over Yemen
VIDEO | Saudi airstrikes target UAE-backed forces at Yemen's Mukalla Port
Iran does not fear war; but ‘narrow window of opportunity’ for dialogue remains open, FM says
Iran says $2bn of frozen assets released by neighboring country
Somalia erupts in massive protests over Israel's recognition of Somaliland
Israel committing 'systematic genocide' against Palestinian prisoners: Advocacy groups
PressTV NEWSLETTER
now
This makes it easy to access the Press TV website
