Zangeneh denies claims on oil for fighter jet barter

February 5, 2018

TEHRAN – Iranian Oil Minister Bijan Zangeneh has dismissed claims on an agreement between Tehran and Moscow to barter oil for Russian fighter aircraft.

According to Zangeneh, the cooperation with Russia is merely restricted to the industry of oil and gas, Trend reported on Sunday, citing IRNA.

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.

MH/PA

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