Iran, Russia agree on ‘oil-for-goods’ deal

DAILY SABAH
ISTANBUL
Published 25.05.2017 17:29
Updated 25.05.2017 17:31
In this Dec. 22, 2014 file photo, an Iranian oil worker rides his bicycle at the Tehran oil refinery, south of the capital Tehran, Iran. (AP Photo)
In this Dec. 22, 2014 file photo, an Iranian oil worker rides his bicycle at the Tehran oil refinery, south of the capital Tehran, Iran. (AP Photo)

Iran and Russia agreed on an 'oil-for-goods' deal, Iranian Minister of Petroleum Bijan Namdar Zangeneh said Thursday.

According to Zangeneh, Iran is now waiting for Russian oil companies to send their oil tankers.

"It's done. We are now waiting for Russia to implement the deal. We have no difficulties, we signed the contract, everything between the parties is well-coordinated," Zangeneh said.

Russian Energy Minister Aleksandr Novak said in March that Russia planned to buy 100,000 barrels a day, or nearly 5 million tons a year, in exchange for cash, which Iran would then spend on Russian goods such as steel, wheat and oil byproducts.

Russia's trade envoy to Iran, Andrey Luganskiy, made an assessment that under the deal Russia could provide Iran with products worth $45 billion a year.

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