Iran To Sell Oil at Russian Commodity Exchange

The Russian energy minister Sergei Shmatko said Monday that Iran considers the possibility of selling a part of Iran's oil at the St. Petersburg Commodity Exchange.

Originally, this was the Russian side propopsal. Shmatko said that the proposal was important in a situation where oil producing countries are diversifying their trade infrastructure on the world oil market.

An Iranian source close to the negotiations told a RIA Novosti correspondent that Tehran "will closely study" the Russian proposal.

The St. Petersburg Commodity Exchange was founded by a number of oil and transport companies and large banks.

Author: Ksenia Kochneva