Middle East Economic Survey


No 24



Iran Proposes 25-Year Caspian Swaps Deal With Russia

Tehran has proposed to Moscow a 25-year deal under which up to 300,000 b/d of Russian Caspian area crude would be delivered to the Iranian port of Neka in return for an equivalent amount of Iranian crude oil to be lifted in the Gulf. Irans Deputy Oil Minister for International Affairs Hadi Nejad-Hosseinian raised the issue during a recent visit to Moscow and a working committee has...