Friday 10 January 2014

Exclusive-Iran, Russia Negotiating Big Oil-For-Goods Deal - NYTimes.com

Exclusive-Iran, Russia Negotiating Big Oil-For-Goods Deal - NYTimes.com:

"Iran and Russia are negotiating an oil-for-goods swap worth $1.5 billion a month that would let Iran lift oil exports substantially, in defiance of Western sanctions that helped force Tehran to agree a preliminary deal to end its nuclear programme.

Russian and Iranian sources close to the barter negotiations said final details were in discussion for a deal that would see Moscow 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. "We are discussing the details and the date of signing a deal depends on those details." The Kremlin declined comment.

"Our desire is to sign the deal as soon as possible," said a senior Iranian official, who declined to be named. "Our officials are discussing the matter with the Russians and hopefully it will be inked soon, regardless of whether we can reach a (nuclear) agreement in Geneva.""

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