Aug 19, 2017, 2:10 PM
News Code: 82636382
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Iran to export oil to Russia soon: Russian Minister

Tehran, Aug 19, IRNA – Iran is likely to start exporting oil to Russia under the agreement 'oil-for-goods' within a month, Russia's Energy Minister said.

'We are finalizing the last details of regulatory documents. I think I will respond to your question within one month,' the Russian Tass quoted Alexander Novak as saying on Friday.

The supplies can start by the end of the time period, according to him.

He had said earlier that Moscow and Tehran were reaching an agreement on importing 100,000 oil barrels per day, according to the Russian media.

The oil-for-good deal can be implemented either physically or swap-based, Tass added.
Iran will receive fifty percent of the oil consignments value in cash and the rest will be allocated for importing Russian goods.

Iran's Minister of Petroleum Bijan Zangeneh had also announced the deal last February.

Iran will receive fifty percent of the oil consignments value in cash and the rest will be allocated for importing Russian goods, according to him.

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