Report: Iran To Deal Russia 500,000 Barrels Of Oil A Day

Iran and Russia heading towards deal to break sanctions regime

Reuters reported on Thursday that Iran and Russia are progressing towards a deal to trade 500,000 barrels a day of Iranian crude for billions of dollars worth of Russian finished products and food, in a move to strengthen their alliance and circumvent sanctions designed to roll back the Islamic Republic’s renegade nuclear program.

The deal is reportedly worth nearly $20 billion over several years, with the two sides issuing conflicting statements over whether or not military equipment is included. The Obama Administration reacted to the news by issuing a statement that the deal would raise “serious concerns” and would be inconsistent with the nuclear talks between world powers and Iran. Read More