Iran, Russia continuing talks on oil barter

Photo: Iran, Russia continuing talks on oil barter / Iran

Iran and Russia continue talks on oil barter regardless of the results of the ongoing nuclear talks between Iran and the G5+1, a senior Oil Ministry official has said.

Deputy Oil Minister for International and Commercial Affairs Ali Majedi told IRNA on Sunday that talks are underway between Tehran and Moscow to develop a final agreement on barter of oil regardless of the progress or outcome of Iranˈs nuclear negotiations with the world six powers (US, Russia, Britain, France and China plus Germany).

Representatives from Iran and Group 5+1 have started the sixth round of their talks in Vienna since July 1st and are to continue the talks until July 20 when a six month deadline, set by their interim agreement in 2013, will expire.

Majedi rejected claims by certain circles that Iran-Russia oil barter talks were halted because of the progress of the nuclear negotiations.

He stressed that delegations from the two countries are working on oil barter to get to a desired result.

Noting that Tehran and Moscow are serious about the oil barter plan, the deputy minister said details of their final agreement have not been finalized yet.

He added since delivering oil to Russia could not be possible via the Caspian Sea, Iran will use its southern ports for this purpose.

According to non-official sources, Iran and Russian are negotiating to strike a 20-billion-dollar deal according which Iran will receives goods and equipment from Russia in exchange for its oil.

An overall agreement has already been developed between the two capitals but talks are still underway on details of the deal.

Official sources from neither of the countries have commented on the value and details of the agreement yet.

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