Questioning Viability of Oil-for-Goods Barter Agreement
Iran said today that Russia has not been able to sell any of its crude oil cargoes. The announcement questions the viability of an oil-for-goods barter agreement that has been signed between Iran and Russia.
“The problem with the barter agreement with Russia is the fact that it has not been able to sell any Iranian oil cargoes,” said Mohsen Qamsari, the deputy director of National Iranian Oil Company (NIOC). “Russia should be first able to market Iran’s oil so that Iran could provide it with [additional] crude.” (Press TV, 9 May)
Under the barter deal, Russia was to purchase 500,000 barrels of crude oil per day from Iran in exchange for millions of tons of Russian goods a year.