Ongoing Negotiations For USD20bn Oil-For-Goods Deal With Russia

News: Iran is reportedly negotiating a USD20bn oil-for-goods deal with Russia in a bid to boost its energy exports amid Western sanctions. According to Reuters, Moscow will buy up to 500,000b/d of Iranian crude for two to three years in exchange for Russian equipment and goods including metals and food, but no military equipment. The deal would be done in a phased manner, with an initial USD6bn to USD8bn tranche.

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Related sectors of this article: Oil & Gas, Energy Policy
Geography: Iran

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