Get 40% Off
👀 👁 🧿 All eyes on Biogen, up +4,56% after posting earnings. Our AI picked it in March 2024.
Which stocks will surge next?
Unlock AI-picked Stocks

Kremlin confirms oil-for-goods swap with Iran under way

Published 04/14/2015, 06:17 AM
Updated 04/14/2015, 06:24 AM
© Reuters. Russia's President Putin shakes hands with his Iranian counterpart Rouhani at the welcoming ceremony during a summit of Caspian Sea regional leaders in the southern city of Astrakhan

MOSCOW (Reuters) - The Kremlin confirmed on Tuesday that an oil-for-goods barter deal between Russia and Iran was being implemented and said all legal barriers had been removed to Moscow supplying S-300 missile systems to Tehran.

Kremlin spokesman Dmitry Peskov declined to give any details of the barter deal. But asked whether a senior Foreign Ministry official was correct when he said on Monday that the exchange had begun, Peskov told reporters: "Absolutely. Of course."

Peskov also said no legal barriers remained to supplying the advanced Russian air defence system S-300 to Iran after President Vladimir Putin signed a decree on Monday lifting a ban on such deliveries.

"One the whole you can say one thing - from the juridical point of view there are no longer any constraints (on deliveries) now that the decree has been signed," Peskov said in a conference call with reporters.

Iran and six world powers, including Russia, reached an interim deal with Iran this month on curbing its nuclear programme. They have until June 30 to work out a detailed agreement under which Tehran would allow international control in exchange for a lifting of economic sanctions.

Sources told Reuters more than a year ago that a barter deal worth up to $20 billion was being discussed with Tehran and would involve Russia buying up to 500,000 barrels of Iranian oil a day in exchange for Russian equipment and goods.

Officials from the two countries have issued contradictory statements since then on whether a barter deal has been signed, but Deputy Foreign Minister Sergei Ryabkov said on Monday one was already being implemented.

3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads .

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.