Russia and Iran sign $20bn oil deal | Middle East Eye

Russia and Iran sign $20bn oil deal | Middle East Eye:



"Russia and Iran penned a trade deal worth $20 bn with Iran on Wednesday, which could help Russia and Iran both sidestep the impact of Western sanctions.



Under the terms of a five-year accord, Russia will help Iran organise oil sales as well as “cooperate in the oil-gas industry, construction of power plants, grids, supply of machinery, consumer goods and agriculture products”, according to a statement by the Energy Ministry in Moscow.



The deal will see the Russians work closely with Iran to revive its oil market, which has been hard hit by Western sanctions in recent years."



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