According to Russian Deputy Prime Minister Alexander Novak, Russia and Iran have already begun exchanging energy resource supplies, particularly petroleum products, and have agreed to broaden the range of supplied goods.

In October, Novak stated that Russia and Iran were coordinating the specifics of a swap of oil and gas supply.

He anticipated that the swap arrangement, which could initially include 5 million tones of oil and up to 10 billion cubic meters of gas annually, would be signed by the end of 2022.

“Our deliveries of petroleum products have already begun, we have agreed to expand the range of relevant products. This is also a promising area of our joint cooperation,” Novak said during a press conference, following the meeting of the Russia-Iran intergovernmental commission on trade and economic cooperation.