Sky News: Russia, Iran set oil-for-goods contract

Russia and Iran have agreed to discuss next month a contract for Teheran to export two per cent of its annual oil production in an apparent circumvention of sanctions imposed over its nuclear drive.

The controversial deal is just a tenth the size of that discussed by the two close partners last year and appears to be aimed at shielding Russia from additional punitive steps imposed by the United States for violating international restrictions on the Islamic state.

Russia’s energy ministry said on Tuesday it had signed a memorandum of understanding with a visiting Iranian delegation that paves the way for contract talks to begin in Teheran on September 9.

The five-year framework agreement covers “the construction and reconstruction of (Iranian power) generation capacities, electricity supply network infrastructure development, as well as oil and gas,” the ministry said.
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