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He told TASS that “central banks” working groups have met several times.

“As far as we can understand, negotiations are underway,” Dzhagaryan said.

“We hope that in 2018 we shall achieve progress and will be able to use widely the favorable conditions we may have if we manage to approach final decisions,” he added.

Last year, during the visit of Iranian President Hassan Rouhani to Moscow, the two sides agreed to continue cooperation aimed at stabilizing the global energy market and ensuring sustainable economic development. They said they will be working on favorable conditions for using national currencies in settlements. Moscow and Tehran have also discussed developing inter-bank cooperation between the two countries and ensuring an increase in trade and investments.

Putin and Rouhani also focused on the potential creation of a free-trade zone between Iran and the Eurasian Economic Union, which consists of Russia, Belarus, Armenia, Kazakhstan, and Kyrgyzstan. Rouhani told journalists that such a trade zone could significantly improve the trade situation and “create new conditions” in regional trade.

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