OREANDA-NEWS. In the course of the Summit of Heads of State and Government of the Gas Exporting Countries Forum (GECF) member countries in Teheran and in the Presence of Russian President Vladimir Putin and Iranian President Hassan Rouhani, Vnesheconombank, JSC EXIAR (VEB Group) and the Central Bank of the Islamic Republic of Iran (CBI) signed a Memorandum of Understanding.

Under the Memorandum, the parties are to cooperate in implementing Russian-Iranian export projects and in expanding a list of services and instruments in supporting exports.

In order to increase Russian exports to Iran, Vnesheconombank is exploring the possibility of providing up to 2 billion euros under JSC EXIAR's insurance coverage.

The parities are to place particular emphasis on supporting projects in such industrial sectors as power engineering, shipbuilding and aircraft industry.

The Memorandum is to be implemented in accordance with standards of national and international law.