The deal between Russia and Iran is under threat

​The possible deal “oil in exchange for goods” agreed between Russia and Iran last year might be broken.

In 2014 Russia and Iran signed an agreement on re-export of Iranian oil in exchange for the Russian goods and services – equipment, grain, construction of electric stations and electrification of railroads. Russia planned to be an intermediary in the sale of the Iranian oil to the third countries. However, after the cancellation of sanctions, Iran can sell its oil reserves by itself, and will not need the services of Russia.

The value of the deal is assessed at $70 bln. It was planned to ship 500 thousand barrels of Iranian oil a day. In April 2015 the Minister of Energy of Russia, A. Novak, said that Russia started to execute its part of obligations on the supply of technological equipment. Iran hasn’t shipped oil as yet. Previously Iran was reported to possibly offer Russia some joint projects in the oil and gas sector.