The cooperation between Iran and Russia in field of oil trade will not be based on barter, the both sides still discuss the agreement, Mokhsen Kamsari, chief of the international affairs department of the State National Iranian Oil Company, said in his interview to ICNA.
Kamsari also added that the Russian side will buy and export Iranian oil and the earned funds will be used by Iran to buy required products around the world.
ICNA agency reported that earlier Iranian Oil Minister Bijan Namdar Zangane also refuted the reports that the oil deal with Russia will not be barter based.
The talks between Russia and Iran on purchase of Iranian oil by the Russian companies started in early 2014. Oil from Iran will be delivered through the Caspian ports. The technical possibilities of the Iranian Caspian terminals allow exporting 500,000 barrels of oil a day.
According to some media the approximate size of the deal is $10 billion.—0—
Economics
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