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    Russia, Iran 'Oil-for-Goods' Deal Volume Could Reach $45Bln Annually

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    The total volume of goods that Russia could deliver to Iran under the "oil-for-goods" deal between could reach $45 billion annually, Russian trade representative in Iran Andrei Lugansky told Sputnik.

    MOSCOW (Sputnik) — The total volume of goods that Russia could deliver to Iran under the "oil-for-goods" deal between could reach $45 billion annually, Russian trade representative in Iran Andrei Lugansky told Sputnik.

    "The total cost of goods under the program can currently be estimated at $45 billion a year," Lugansky said Monday.

    Lugansky explained that the "legally viable" program stipulates 50-percent monetary payment and 50-percent payment-in-goods in exchange for Iranian oil.

    "The 50 percent coming from Russia are railroad items, heavy trucks, by which I mean our buses, the aviation industry (equipment for airfields, planes themselves)," he said.

    Iranian media reported last month that the agreement would envision selling Russia 100,000 barrels per day. Russian Energy Minister Alexander Novak later clarified that the oil delivery volume under the "oil-for-goods" deal could reach 5 million tonnes of oil annually.

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    Oil, Andrei Lugansky, Iran, Russia
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