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Iran, Russia unlikely to reach oil, gas barter deal

: Wednesday, April 16 - 2014 @ 09:23

Ali Majedi, Iran’s deputy oil minister for international trade has said the Islamic Republic and Russia will find it hard to agree any oil or gas trade deal because they are rivals in both markets, Reuters has reported. The two countries have been discussing various ways of increasing bilateral trade, including Moscow possibly taking up to 500,000 barrels a day of Iranian oil in exchange for Russian goods that Iran needs. “Many people think oil and gas is the main issue but this is very difficult because both countries are producers and exporters of oil and gas,” Majedi told reporters on the sidelines of a conference in Dubai.

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Wednesday, April 16- 2014 @ 9:23 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.

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