Azernews.Az

By Sara Rajabova

Iran and Russia continue negotiations on oil barter deal despite protests by some countries, especially the United States.

A senior Iranian official said Tehran and Moscow are in talks to finalize the oil agreement irrespective of Tehran's nuclear talks with six world powers.

"Talks are underway between Tehran and Moscow to reach a final deal regardless of the progress of talks between Iran and the P5+1," Iran's Deputy Oil Minister for International and Trade Affairs, Ali Majedi said on July 13.

Majedi rejected claims by certain circles that Iran-Russia oil barter talks were suspended because of the progress of nuclear negotiations between Tehran and the five permanent members of the UN Security Council plus Germany.

The nuclear talks between Iran and P5+1 on Tehran's disputed nuclear energy program are underway in Austrian capital Vienna.

Iran and the six countries have been discussing ways to sort out differences and achieve a final deal that would end the decade-old dispute over Iran's nuclear energy program. The two sides sealed an interim deal in Geneva last November.

Majedi stressed that officials from Iran and Russia are working on oil barter to get a desired result.

Tehran and Moscow are serious about the oil barter plan, he said, adding that details of the agreement have not been finalized yet.

He noted that Iran would have to deliver oil to Russia at the Islamic Republic's southern ports as it is not possible to ship crude to Russia via the Caspian Sea.

Earlier in April, Reuters reported that Iran and Russia were close to sealing a $ 20-billion oil-for-commodities deal.

Under the agreement, which is yet to be finalized, Russia will buy 500,000 barrels of Iranian oil per day in return for Russian goods needed by Iran.

Washington said such a deal would go against the terms of the interim nuclear deal between the world powers and Iran.

U.S. Senators earlier threatened to reinstate Iran sanctions that were eased under the Geneva deal in case Russia and Iran sign the barter deal.

Iranian Oil Minister Bijan Namdar Zanganeh said in April that Tehran is determined to raise the volume of its economic transactions with Russia under long-term deals.

Russian Energy Minister Alexander Novak, who co-chairs the permanent Russian-Iranian Commission on trade and economic cooperation, said the agreement on trade and industrial cooperation with Iran is expected to be signed in September, ITAR-TASS news agency reported.

However, Novak did not specify, whether the oil-for-goods deal would be included in the agreement or not.

The experts said, such a deal would not be in the interest of Iran and would damage its economy.