Tag Archives | barter transactions

Iran, Russia Ink Oil-for-Goods Barter Deal

Iranian Oil Minister Bijan Namdar Zangeneh said Tehran and Moscow have signed an agreement whereby Iran will sell crude to Russia in exchange for products. “The deal has been concluded. We are just waiting for the implementation from the Russian side. We have no difficulties; we signed the contract, everything is coordinated between the parties. […]

NIOC Considers Barter due to Financial Restrictions

By John Lee. The National Iranian Oil Company (NIOC) is reportedly resorting to barter deals as it struggles with continuing financial restrictions on its business. Under the proposal, Iran would swap exports of crude oil for imports of refined fuel. Banks are reluctant to process payments as U.S. rules as to what they can do […]