Russian state owned news agency TASS reported that Iran is ready to enter barter arrangements with Russia, offering car parts and gas turbines in exchange for steel. The report cited Iranian Trade & Industries Minister Mr Reza Fatemi Amin, on the sidelines of a Russian-Iranian joint economic and trade cooperation commission meeting, as saying “The Islamic Republic may use barter arrangements to obtain raw materials necessary for the country’s metals and mining industries. The country needs zinc, aluminum, lead and steel. In return, Iran can supply car parts and gas turbines to Russia.”In his words, the sides also agreed on deliveries of spare parts and repairs of turbines used by Russian power plants. Apart from that, the countries agreed to study options of barter deals on a wide range of commodities and raw materials.