Iranian oil ministry rejects oil-for-goods deal with Russia

An Oil Ministry official rejected any oil-for-goods deal or agreement between Iran and Russia. Head of the public relations department of the Iranian Oil Ministry Akbar Nematollahi made the remarks in reaction to a report released by some foreign media that Iran is to swap oil for goods based on a deal with Russia, the Islamic republic news agency reported. Reuters news agency has claimed that Iran and Russia are holding talks on reaching such an agreement. Based on the agreement, Reuters has said, Russia would buy Iranian oil in exchange for Russian equipment and goods. According to the oil-for-goods deal, Moscow would be able to increase its oil imports from Iran despite the West sanctions on Tehran, reported Reuters.