Minister: Possible US sanctions for Iran no to hurt deals with Russia

MOSCOW, Apr 27 (PRIME) -- The possible introduction of new sanctions against Iran by Washington would not hurt plans of Russian companies to sign contracts to develop local hydrocarbon fields, Russian Energy Minister Alexander Novak told reporters on Friday.

When asked whether possible U.S. sanctions has any impact on Russian companies’ plans to signs contracts with Iran, he said, “No, I think that this (delay in signing of the contracts) occurred due to the fact that they are having commercial negotiations and working on the documents. This is a difficult process.”

But the sanctions may have an impact on oil prices. “The Iranian sanctions have an impact on the oil price, markets react to the fact that oil production may fall if the sanctions are introduced,” he said.

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