Iran counts on “huge volumes” of oil and gas swaps from Russia this year, Iranian Economy Minister Ehsan Khandouzi said in an interview with Russia’s RIA state news agency in remarks published on Tuesday. “This year will witness huge volumes of swap supplies.

We are very pleased that Tehran and Moscow have started cooperation on the issue of swap supplies of oil and gas,“ Khandouzi was cited as saying.

There were no details on what volumes of oil and gas Iran is expecting.

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In October, Russia said that a swap deal with Iran may initially include 5 million tonnes of oil and 10 billion cubic metres of natural gas per year.