Iran Not Denying Oil Barter Deal with Russia

(FNA)- Iranian Oil Minister Bijan Namdar Zanganeh didn’t dismiss oil-for-goods contract between the Islamic Republic and Russia.
"I neither confirm nor reject the issue," Namdar Zanagneh said in an interview on Wednesday when asked whether Iran had signed a barter oil deal with Russia.

Media reports said earlier that Iran and Russia were negotiating an oil-for-goods swap worth $1.5 billion a month that would enable Iran to lift oil exports substantially.

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

"Good progress is being made at the moment with strong chances of success," said a Russian source in January. "We are discussing the details, and the date of signing a deal depends on those details."