MOSCOW (Worthy News)– Russia has agreed a five-year, $20 billion, trade deal with Iran that will help the Islamic republic to sidestep Western sanctions on its energy sector.
Under the terms of a five-year accord, Russia will help Iran organise oil sales as well as “cooperate in the oil-gas industry, construction of power plants, grids, supply of machinery, consumer goods and agriculture products”, according to a statement by the Energy Ministry in Moscow.
A deal could see Russia buying 500,000 barrels of Iranian oil a day, the Moscow-based Kommersant newspaper has previously reported. That would be about a fifth of Iran’s output in June and half its exports. — Source