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Russia-Iran Oil Swap Deal Gains Momentum

by James Stafford, Oil Price:

Russia and Iran are moving closer to a $20 billion oil-for-goods deal launched earlier this year, according to a Reuters report citing unnamed sources close to the deal.

Russia has finished preparation of all documents related to the deal on its side, and the deal’s completion now allegedly hinges on an oil price agreement, the source reportedly said.

The deal could eventually be worth $15-$20 billion, but would be completed in increments, with an initial $6-$8 billion transaction, while both sides are still bargaining over the exact nature of a barter deal that would trade Iranian oil for Russian industrial goods and food.

Read More @ OilPrice.com

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