Baku, Azerbaijan, Apr.12
By Fatih Karimov - Trend:
The National Iranian Oil Company is carrying out preparation operations at its northern Neka oil terminal to start oil swaps with Russia.
Dredging operations started at the Caspian Sea oil terminal in the past Iranian calendar year, which ended on March 20, after negotiations between the two countries for an oil-for-goods deal made some progress, Iran's Mehr news agency reported on April 12.
However, Mehr quoted National Iranian Oil Company's managing director Roknoddin Javadi as saying on April 6 that Iran and Russia have not finalized an oil-for-goods deal, although negotiations have entered a new phase.
"Negotiations are underway with Russia to identify Iranian oil should be delivered to the Russian side at Iran's northern Neka terminal or at southern Kharg terminal," Javadi added.
Iran and Russia have made progress towards an oil-for-goods deal. As the sources said, it would be worth up to $20 billion, which would enable Tehran to boost vital energy exports in defiance of Western sanctions, people familiar with the negotiations told Reuters on April 3.
In January Reuters reported Moscow and Tehran were discussing 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.
The White House has said such a deal would raise "serious concerns" and would be inconsistent with the nuclear talks between the world powers and Iran.