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December 04, 2014

04/12/2014: Russo-Iranian oil-for-grain deal to go ahead

Iran and Russia will go ahead with their planned oil-for-goods barter deal, Sputnik reports

"Deliveries under the agreement will begin with grain supplies”, a spokesperson for the Iranian Trade Minister said on Wednesday.   
 

In late November, Alexey Ulyukaev confirmed that Russia was readying its first shipments of grain and goods to Iran but has so far refused to give specifics about the date or the volumes involved, even to the Iranians themselves. 

Reuters had first suggested in January that Moscow was proposing a deal worth about $20 billion, involving up to 500,000 barrels of Iranian oil per day; In September Moscow denied that any such talks were under way, but hinted at a future opportunity. Russia’s state-run United Grain Company later claimed it could provide Tehran with over 2 million tonnes of grain each year. 


Read more HERE.
 

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