Code: 601456 A

Russian oil companies could sign contracts with Iran by March 21 that would allow them to work on Iranian oilfields, Russia’s Energy Minister Alexander Novak said on Tuesday.

Novak also said Iran was ready to supply crude oil to Russia but that would depend on future agreements with the buyers of the oil.

Iran and Russia have boosted efforts to foster energy ties following the removal of sanctions over Iran's nuclear energy program.

Iran sits on the world's fourth-largest oil and largest gas reserves.

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Russian oil oilfields
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