Iran and Russia are negotiating an oil-for-goods swap worth $1.5 billion a month that would let Iran increase oil exports substantially, undermining Western sanctions that helped persuade Tehran in November to accept a preliminary deal to curb its nuclear program.
Russian and Iranian sources close to the barter negotiations said final details were in discussion for a deal that would see Moscow buy up to 500,000 barrels a day of Iranian oil in exchange for Russian equipment and goods, according to the Reuters news agency.
"Good progress is being made at the moment with strong chances of success," said a Russian source. "We are discussing the details, and the date of signing a deal depends on those details." The Kremlin declined to comment.
"Our desire is to sign the deal as soon as possible," said a senior Iranian official, who declined to be named. "Our officials are discussing the matter with the Russians, and hopefully it will be inked soon, regardless of whether we can reach a (nuclear) agreement in Geneva."
It is not clear whether the deal would be implemented before a nuclear agreement, outlined in Geneva in November between Iran and six world powers, is finalized. Nor is it clear how Moscow will justify to other powers a barter deal that could jeopardize the nuclear negotiations by easing the economic pressure on Tehran.
"It depends on whether the Russians agree to implement this deal before there is a final resolution of the nuclear issues," said Gary Samore, former nuclear nonproliferation czar for President Barack Obama and now an academic and president of the pro-sanctions group United Against Nuclear Iran. "That would obviously be a very negative signal.
"It could very well be they just want to have this ready to go the day after a nuclear deal is completed and they would then be prepared to execute a barter arrangement."
Russia is one of the countries involved in the nuclear talks but, unlike the United States and the European Union, has not imposed sanctions on Iran.
Technical nuclear talks between Iran and the European Union, representing six world powers, started on Thursday.
The November deal was designed to halt Iran's nuclear advances for six months to buy time for a final settlement by May.
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