Iran Ready to Swap Oil with Azerbaijan

The Islamic Republic of Iran and the Republic of Azerbaijan signed two memoranda of understanding (MoUs) for expansion of bilateral cooperation on Sunday in Tehran in the presence of Hassan Rouhani and his Azeri counterpart Ilham Aliyev.

One agreement was inked between the Financial Intelligence Unit of the Islamic Republic of Iran (IRIFIU) and the Financial Markets Supervision Chamber of Azerbaijan for cooperation on prevention of money laundering or any other assets obtained from criminal activities as well as financing of terrorism, reported Mehr News Agency.

The other MoU was signed between the Islamic Republic of Iran Railways and Azerbaijan Railways joint stock company for cooperation on expansion of rail connections between the two countries.

The agreements were signed at the end of a joint meeting between the two countries’ high-ranking delegations. 

After the meeting, Rouhani said, “Development of oil reserves in Caspian Sea is an important issue regarding which talks were held during today’s meeting.” 

President Aliyev led a top-ranking economic and political delegation to Tehran this morning and attended a joint press conference with his Iranian counterpart to discuss various issues such as development of bilateral relations, expansion of cooperation and investment, regional issues and the Nagorno-Karabakh ongoing dispute.