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Iran close to inking $20bn barter deal with Russia

: Saturday, April 05 - 2014 @ 10:44

Iran and Russia have made progress toward an oil-for-goods deal that could be worth up to $20bn and enable Tehran to boost vital energy exports, Reuters has reported, citing people familiar with the negotiations. The two sides are looking at a barter arrangement that would see Iranian oil exchanged for industrial goods including metals and food, but no military equipment was involved, said a Russian source, adding that the deal was expected to reach $15 to $20bn in total and would be done in stages with an initial $6bn to $8bn tranche. Moscow had “prepared all documents from its side,” said the source, adding that completion of a deal was awaiting agreement on what oil price to lock in.

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Saturday, April 5- 2014 @ 10:44 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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