West: STFU ! We are busy cutting off our nose to spite our face.
From RT:
Moscow and Tehran have signed far-reaching deals, from energy to consumer goods, which are expected to undermine Western-led sanctions against the two countries.
Russia’s Energy Minister Aleksandr Novak met with Iran’s Oil Minister Bijan Namdar Zanganeh and signed a five year memorandum of understanding between the two governments, Russia’s Energy Ministry announced in a statement released on August 5.
The agreement envisages wider economic cooperation, which includes closer ties in the oil and gas sector, construction and rebuilding of generating capacity, development of power supply network infrastructure, machinery, consumer goods, and agriculture.
It lays the foundation for a multi-billion dollar oil agreement between Moscow and Tehran, or the so-called oil-for-goods contract.
On Wednesday Novak confirmed that Russia may start delivery of Iranian crude oil.
“Concrete delivery volumes will be determined in accordance with the market demand,” he said.
Russia’s Energy Minister stressed that cooperation between Russia and Iran didn’t violate the UN Security Council resolution.
The oil trade portion of the cooperation deal could be worth $2.35 billion per year, Kommersant reported. In January, the media said Iran and Russia were poised to sign an oil-for-goods swap worth $1.5 billion per month.
Moscow may buy 500,000 barrels of Iranian oil per day which is well below the 1 million barrels per day allowed under the nuclear deal reached in January between the US, Britain, France, China, Russia, Germany, and Iran......
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