News ID: 133462
Published: 0703 GMT December 22, 2015

Russia likely to grant $5b loan to Iran in 2016

Russia likely to grant $5b loan to Iran in 2016

Russia may extend a state export loan to Iran to the tune of $5 billion in 2016, said Russian Industry and Trade Minister Denis Manturov on Tuesday.

"We are talking about granting a state loan, naturally under the Iranian government's guarantee…I think that if all formalities can be agreed upon in the first quarter of next year, then next year part of it may be provided," Manturov told journalists in the Iranian capital, Sputnik reported.

Preliminary agreements on granting Iran the $5-billion loan were signed during Russian President Vladimir Putin's visit to Tehran at the end of November.

The Russian minister also hoped that Tehran-Moscow trade could be boosted once the sanctions against Iran are lifted.

"We are all interested in eventually lifting the economic sanctions against Iran…This will significantly simplify the process of financial transactions, which is currently one of the main obstacles in further developing cooperation in a number of areas," TASS quoted Manturov as saying.

The Russian minister made the comments on the sidelines of Russian's national exhibition in Tehran, called 'Trade and Industrial Dialogue: Russia-Iran'.

Representatives of 80 leading Russian companies are taking part in the exhibition seen as the biggest foreign display of the kind ever held in Iran. The exhibition ends today.


Jet production


On Monday, Manturov said Moscow is interested in local production of Sukhoi 100 super jets in Iran.

"Regarding Sukhoi 100 Superjets, we want to produce the components of the aircraft in Iran. This will be done in cooperation with Iranian partners," the Russian minister was quoted as saying by Tasnim News Agency on Monday.

Earlier in November, Russia's Deputy Prime Minister Dmitry Rogozin said Moscow might deliver a large batch of Sukhoi Superjet 100 passenger aircraft to Iran by 2020.

The planes can be in part localized by Iranian producers if Tehran makes the political decision to purchase ready-made aircraft, he told Rossiya 24 TV during a two-day trip to Iran.

Sukhoi Superjet 100 passenger plane is described as Russia's most modern commercial jet.

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