IEA reaches agreement on purchase of oil and gas with Russia

The Ministry of Commerce and Industry says that Kabul and Moscow have reached an agreement on the purchase of oil and gas and this agreement will be signed soon.

Nooruddin Azizi, acting Minister of Commerce and Industry, said Saturday that many banks in Afghanistan and Russia are under embargo and money will be transferred through a third country.

“Alhamdulillah, we had very important and useful discussions with the Russian side. We will expand these discussions and expand economic relations, and we will reach an official agreement on the purchase of oil and wheat,” said Azizi.

According to Azizi, a special center for Afghan exports to Russia will be established to send Afghan goods to Russian markets.

In the meantime, Afghanistan Chamber of Commerce and Investment (ACCI) believes that Russian goods, especially wheat and oil, are cheaper than other countries.

Economic experts have said that the development of Afghanistan’s economic and trade relations with Russia can have a positive effect on Afghanistan’s markets and economic system.

However, the citizens of the country said that the Islamic Emirate should control the price of oil in the country’s markets by any means possible.

Based on the statements of the ACCI, currently the trade between Afghanistan and Russia totals $200 million and Kabul imports most of the food and fuel from Central Asian countries.