Greece is to enter in negotiations to pay off its $800m debt to Iran for oil purchases conducted prior to the sanction regime was imposed on Tehran, IRNA reported.

Greek Foreign Minister Nikos Kotzias, visiting Tehran, and Iranian Minister of Petroleum Bijan Namdar Zangeneh, have agreed to launch talks on the payment by Greece’a biggest oil refiner Hellenic Petroleum, and other companies with lower debts, within the next few months, Press TV informed.

The two countries are also seeking to expand their trade relations, and raise the level of annual transactions worth $24m at present. Press TV cited Zangeneh as saying that Tadbir Energy Development Group, the Iranian private oil and gas contractor, is interested in buying a stake in a Greek refinery, without adding more details.