Ankara to Sell Tehran Rail Tracks in Barter Deal

Turkey’s Transport Minister Binali Yildirim said Ankara will buy Iran’s oil in exchange of train rails as a part a barter deal between the two neighboring countries.

Yildirim said Turkey has inked a deal with Iran whereby it will import Iranian oil in exchange for train rails, which are made in Karabuk.

“Karabuk has been one of the oldest industrial hubs of the Turkish Republic… Karabuk has now become an important train rail producer and exporter. We recently made an 80-million-euro agreement with Iran to sell train rails,” he said, Railly News reported.

Yildirim added that Turkish refinery TUPRAS will buy oil from Iran.

Back in April, Iran and Turkey signed eight memorandums of understanding (MoUs) to strengthen bilateral cooperation in various areas.

The cooperation documents were signed in a ceremony in Ankara on April 16, attended by Iranian President Hassan Rouhani and his Turkish counterpart Recep Tayyib Erdogan.

The documents covered a range of fields, including higher education, social security, plant maintenance services and standardization.

(Source: Tasnim, under Creative Commons licence)

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