TEHERAN, May 31. /TASS/. Russia and Iran are negotiating formats of oil cooperation which will not be of a barter type, Mohsen Qamsari, director for international relations of the National Iranian Oil Company (NIOC), told the ISNA news agency on Sunday.
"What is going to be done is not barter and it is in the phase of discussion at the moment," he said, add that talks had not yet entered into the phase of operation. "Agreements were made on cooperation with Russians."
The Russian side is supposed to "buy and export our oil, and we can buy fundamental goods from across the world by its funds," he said.
According to INSA, Iranian Oil Minister Bijan Zangeneh had refuted reports that a Russia-Iranian oil deal would be of a barter type. "We can say now that we have not signed anything for barter," Zangeneh was quoted as saying.
Russia and Iran have been negotiating possible purchase of Iranian oil by Russian companies since early 2014. It is planned to ship Iranian oil via Caspian Sea ports. Technical capacities of Iran’s Caspian terminal make it possible to export 500,000 barrels of oil a day. Media say the deal may amount to ten billion U.S. dollars.