Russia likely to grant $5bn Loan to Iran

By John Lee.

Sputnik reports that Russia may extend a $5-billion state export loan to Iran.

Russian Industry and Trade Minister Denis Manturov (pictured) said 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.

“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.”

(Source: Sputnik)

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