Russia’s Finance Ministry expects to get the cabinet’s permission on granting loans to Iran in two weeks

BISHKEK, June 6. /TASS/. The total amount of Russia’s two loans to Iran will be about €2.5 bln, Deputy Finance Minister Sergey Storchak told reporters. "The total sum of two loans (to Iran) is about 2.5 bln euros. The first one is slightly bigger, the second one is a bit smaller," he said.

Storchak said that usually parties set the highest and the lowest sums of a loan. "We fix an upper limit on the potential costs of the Russian budget to fund the loan. How the loan drawing will depend on the contracts, as they often change in the course of their implementation," Deputy Finance Minister said. According to him, the contracts are very complicated and complex. "Not all risks can be calculated on the development stage. For example, the risks related to railway, tunneling work. In the same mountainous area their cost can increase or decrease. Loan drawing depends on the contract and annexes to the contract, which are often signed," he said. In April, Storchak said that the legal disagreements on Russia’s loan to Iran had been removed and domestic agreements between different agencies in Russia would be reached quickly.