Economy, Business And Markets

Croatia Needs Energy From Iran

Croatia Needs Energy From Iran Croatia Needs Energy From Iran

Croatia has expressed interest to fulfill its energy needs through cooperation with Iran’s energy exchange, a member of the central securities depository of Iran (CDS) told Securities and Exchange News Agency (SENA) on Tuesday.

Ebrahim Enayat said the interest was expressed by the Croatian central depository and clearing company (CDCC) on the sidelines of the annual assembly of the Federation of Euro-Asian Stock Exchanges (FEAS), recently held in Zagreb.

Croatia meets its energy needs through imports and can have good energy deals with Iran, and that is why CDCC head, Vesna Zivkovic, expressed hope that as soon as crude oil or other oil products are offered in Iran’s energy exchange, the Croatian traders would start the purchase, said Enayat.

To this end, the two sides should prepare the technical infrastructure and the central securities depositories in both countries would be able to connect and the transactions would be possible online. The CSDs then will do all the clearing and settling operations.

Iran, in return, could import soft commodities through Croatia’s mercantile exchange.

Zivkovic said during the FEAS meeting in Zagreb that her country could be considered as a gateway to the European market for Iran’s stock exchange, considering Croatia’s membership in the European Union.

She said Croatia has gained valuable experience in working with other financial markets, in settlement and clearing in particular.

During the meeting on November 20, the officials from Iran and Croatia agreed to hold further meetings to learn more about the advantages and details of each other’s equity markets.

According to the decision made by the FEAS, Iran will host next year’s meeting in Tehran.