Iran, Russia in talks over oil-for-equipment barter deal


Iran is reportedly in talks with Russia for the latter country to receive 500,000 bpd of oil from Iran in return for equipment and other goods.

The deal, worth a possible $1.5B, would increase Iran's crude exports by 50%.

Given that Russia produces its own oil, the Iranian crude may well be sold onto other buyers.

It's not clear whether the transaction would go into effect before or after the finalization of an agreement between Iran and six world powers - including Russia - that would ease the sanctions on the Persian nation in return for the scaling back of its nuclear program.

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Comments (4)
  • keentolearn
    , contributor
    Comments (137) | Send Message
     
    FT is the worst news agency I ever encountered with. Learn something from CNBC and Bloomberg.
    12 Jan 2014, 09:42 AM Reply Like
  • Ramon Vredeling
    , contributor
    Comments (575) | Send Message
     
    Original Source Reuters; http://reut.rs/1eC4Afy

     

    This is the stock worth considering: http://reut.rs/1eC5WGX
    In 2013, it acquired TNK-BP Holding OAO, a 51% stake in Petroresurs LLC, as well as consolidated a 100% stake in Elvary Neftegaz ZAO, NGK Itera OOO and TNK-Sheremetyevo LLC. In 2013, it also acquired a number of oil and gas assets in Yamalo-Nenets Autonomous Region and Morgan Stanley’s global physical oil trading business
    13 Jan 2014, 04:50 AM Reply Like
  • The Geoffster
    , contributor
    Comments (4296) | Send Message
     
    Now that the sanctions have forced Iran to drop its nuclear weapons ambitions (sic), it can once again become a leading exporter of oil. The Western Powers have no appetite for war with Iran and have crafted a deal that provides them with a fig leaf while Saudi Arabia and Israel become strange bed fellows in constraining the mullahs.
    12 Jan 2014, 06:49 PM Reply Like
  • black_swan
    , contributor
    Comments (18) | Send Message
     
    Double win for Russia. Not only Russia gets to resell the precious Iranian oil that EU been salivating over for years, but they get to deal with a swap that doesn't involve dollars.
    13 Jan 2014, 03:50 AM Reply Like
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