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What sanctions? Russia to start trading goods for oil with Iran

Russia can supply Iran with goods worth up to $45 billion every year under this deal.

IZMIR (Sputnik) – Oil deliveries from Iran to Russia under the “oil in exchange for goods” program may begin within a month, Russian Energy Minister Alexander Novak said Friday.

“We are working on the last details with them, on the normative documents…it may happen within a month,”

Novak told reporters on the sidelines of the 86th Izmir International Fair in Turkey.

Novak said in early March that the volume of oil purchases in Iran within the framework of the oil-for-goods deal could reach 100,000 barrels per day for a yearly supply of some 5 million metric tons.

According to Russian trade representative in Iran, Andrei Lugansky, Russia can supply Iran with goods worth $45 billion every year under the deal.

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