Russia has no plans to import Iranian oil, but its traders are ready to participate in its sale to third parties, Russian Energy Minister Aleksandr Novak said this week, on the back of a new round of trade talks between the two countries in Tehran.

This comes just weeks after Iran and Russia signed a five-year memorandum of understanding to boost economic cooperation in a number of areas, including closer ties in the oil and gas, power and agricultural sectors, among others (MEES, 8 August). (CONTINUED - 405 WORDS)