Russia and Iran in talks over oil-for-goods swaps

Russian Energy Minister Alexander Novak said that Russia is negotiating the issue of daily purchases of 100,000 barrels of oil from Iran.

"Currently those issues are being negotiated," he said, adding that the sides are "discussing the terms" of the potential agreement.

"Promsiryeimport is the organization authorized by the government," TASS cited him as saying.

Iran’s Oil Minister Bijan Namdar Zanganeh said following his meeting with Novak on February 21 that Tehran was ready to make an agreement on supplies of 100,000 barrels of crude oil per day within the next 10-15 days.

The ministers also discussed potential ‘oil-for-goods’ swaps at the meeting, as well as the progress in implementing the oil production cap agreement.