News ID: 136084
Published: 0336 GMT February 01, 2016

Iran provides €20m for exports to Russia

Iran provides €20m for exports to Russia

Managing director of Exports Development Bank of Iran said a credit line to the tune of €20 million has been set aside for exports to Russia.

Ali Salehabadi told reporters on Monday that Russian companies are keen on importing goods from Iran especially foodstuff, making it necessary to extend banking facilities for the purpose, IRNA reported.

He said there are no problems on opening of L/Cs with Russian banks. Talks have been held with Russian banks in this connection, he added.

The official further noted that his bank has opened credit lines for a total of $2.5 billion in the past nine months while the figure stood at $700 million during the same period last year.

Commenting on Iran-Turkmenistan banking relations, he said Iran imported gas worth between two and three billion dollars from Turkmenistan.

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