Implementation contracts of 25-year agreement with China will be signed in coming months

The high ranking official went on to say: By signing these memorandums, we show that the financing of oil projects that were short of foreign sources is still possible from domestic sources and will be done more quickly."

Noting that the construction of the Tabesh pipeline today has other blessings in addition to providing energy security in the east, Khandouzi said: "By implementing this plan, the daily commute of one thousand tankers will be prevented and fuel smuggling will be reduced by regulating the transfer of products."

The minister pointed to the financing of oil industry projects by a consortium consisting of the country's banks and added: "We are trying so that banks can support of production, especially the sectors that are the driving force of the economy."

The Minister of Economy stated: "This financing will be done both in the development of petroleum refineries and other oil projects."

He said the 25-year Iran-China Memorandum of Understanding must reach specific agreements in each of the sectors that various ministries have been involved in in recent months and are now being finalized.

Khandouzi noted that in the coming months, Iran would enter into contracts in different sectors.