– Barter Agreement Between Russia and Iran Sidesteps Sanctions (Russia Insider, April 16, 2015):
Although Russia claims the agreement on a barter system with Iran was designed in order not to run afoul of the sanctions, the deal still could add further strain in its relations with its fellow P5+1 negotiator
This article originally appeared at Oil Price
An oil-for-goods barter system between Iran and Russia is well under way and is not affected by the sanctions imposed on some trade with Iran because of its nuclear program, according to Russia’s deputy foreign minister, Sergei Ryabkov.
So far, the system, designed to last five years, is operating on a “very significant scale,” Ryabkov told legislators on April 13 in Moscow. “In exchange for Iranian crude oil supplies, we are delivering certain products,” he said. “This is not banned or limited under the current sanctions regime.”
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