Oil Min Dismisses Claims on Oil for Fighter Jet Barter

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Iranian Oil Minister Bijan Namdar Zanganeh has dismissed the claims on an agreement between Tehran and Moscow to barter oil for Russian fighter aircraft.

He added that the cooperation with Russia is merely restricted to the industry of oil and gas. IRNA news agency reported.

Back in 2014. the sides launched negotiations on plans for exporting Iran’s oil to Russia.

Under an initial agreement. Russia was expected to buy up to 500.000 b d of oil in return for Russian equipment and commodities.

This major oil deal. estimated to be worth $1.5 billion a month. was subject to modifications. The two countries finally agreed on 100.000 b d. largely down from the previous figure.