Iranian official dismisses Iran-Russia oil-for-goods deal

Photo: Iranian official dismisses Iran-Russia oil-for-goods deal / Iran

Baku, Azerbaijan, Jan. 11

By Umid Niayesh, Saeed Isayev - Trend:
Manager of Iranian Oil Ministry`s public relations department, Akbar Nematollahi has dismissed reports on Iran-Russia oil-for-goods deal, IRNA news agency reported on Jan. 11.

Without getting into details, Nematollahi said that there was no agreement made between the countries.

At the same time, head of import departments of Iranian Customs Administration, Foroud Asgari told Fars news agency on Jan. 11 that that it is not yet clear what kind of goods Iran will import from Russia.

Asgari said that the goods will be determined after the final agreement. He also added that that Iran's Customs administration has not yet received any memo or note about the issue.

Originally Reuters reported on Jan. 10 that Iran and Russia are negotiating an oil-for-goods swap, which would allow Iran to lift its oil exports substantially.

Reuters said Russian and Iranian sources close to the negotiations said final details were in discussion for a barter deal that would see Moscow buy up to 500,000 barrels a day of Iranian oil in exchange for Russian equipment and goods.

Considering that U.S. and European sanctions have cut Iran's oil exports by more than half over the past 18 months to about one million barrels a day, Russia's purchases of 500,000 bpd of Iranian crude would lift Iran's oil exports by 50 percent and provide a major fillip to its struggling economy.

Follow us on Twitter @TRENDNewsAgency