Russia and Iran ready to launch ‘oil-for-goods’ deal next week – Iranian oil minister

iran.siIran hopes to start implementing an ‘oil-for-goods’ barter deal with Russia after June 7, said Iranian Oil Minister Bijan Namdar Zanganeh. It will supply Iranian crude oil to Russia in exchange for grain, equipment and construction materials. “We hope that next week” Russia will take its first imports, said Zanganeh, quoted by Bloomberg on Friday after attending an OPEC meeting. “Much of this will be for cash and we will be using this money to buy commodities from the Russians.” Read Article