Energy
0

Kremlin Says Oil-for-Goods Swap With Iran Underway

Kremlin Says Oil-for-Goods Swap With Iran UnderwayKremlin Says Oil-for-Goods Swap With Iran Underway

Russia confirmed on Tuesday that an oil-for-goods barter deal between Russia and Iran was being implemented, Reuters said in a report. The Kremlin spokesman Dmitry Peskov declined to give any details of the barter deal. But asked whether a senior Foreign Ministry official was correct when he said on Monday that the exchange had begun, Peskov told reporters, "Absolutely. Of course."

Sources told Reuters more than a year ago that a barter deal worth up to $20 billion was being discussed with Tehran and would involve Russia buying up to 500,000 barrels of Iranian oil a day in exchange for Russian equipment and goods.

Officials from the two countries have issued contradictory statements since then on whether a barter deal has been signed, but Deputy Foreign Minister Sergei Ryabkov said on Monday one was already being implemented.

 

Financialtribune.com