Reporting from Moscow, AFP quoted Russian Energy Minister Sergei Shmatko as saying:” Russian companies are prepared to deliver oil products to Iran. The possibility of delivering oil products to Iran exists, if there is a commercial interest."
Russia has already expressed its dissatisfaction with the sanction measures agreed last month by the United States and the European Union to punish Iran for its defiance in the nuclear standoff.
These go beyond the new UN sanctions that were agreed by Russia and other world powers which mainly target military-related industries.
"Sanctions cannot hinder us," Shmatko said after a meeting in Moscow with Iranian Oil Minister Massoud Mirkazemi, quoted by Russian news agencies.
Iran, which holds around 10 percent of the world's oil reserves, is the world's fourth biggest oil exporter and the second largest producer in the oil cartel OPEC after Saudi Arabia.
However a lack of refining capacity and inefficiency problems means Iran has to import vast volumes of petrol from a variety of sources in order to satisfy domestic demand.
Iranian petroleum minister, Dr. Seyed Masoud Mirkazemi, is visiting Moscow amid ongoing negotiations between oil experts of the two countries on energy cooperation.
An expert group of Iranian petroleum ministry has traveled to Russia to talk about the bilateral cooperation on the invitation of Russian energy officials.
Cooperation on know how exchange, transfer of technology and exchanging experiences in the oil, gas and petrochemical sectors are the main topics on the agenda.
Iran and Russia hold 18 percent of the oil and 40 percent of the natural gas reserves of the world. The two countries also have great potentials to cooperate in big energy projects. During the talks, the two sides will examine the ways of promoting bilateral cooperation considering their special role in meeting energy needs.