Russia and Iran Start Oil-Product Swap as Ties Deepen Under Sanctions
- Officials discuss investment in oil, ports, freight corridor
- Range of product swaps will grow, Russia’s Novak says
Oil pumping jacks in an oilfield in Tatarstan, Russia.
Photographer: Andrey Rudakov/Bloomberg
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Russia started swapping oil products with Iran, Interfax reported, the latest sign of deepening ties between the two sanctioned countries pushed closer by Russia’s war in Ukraine.
The range of swapped products will be expanded, Interfax cited Deputy Prime Minister Alexander Novak as saying, without giving further details, after a meeting with Iranian Oil Minister Javad Owji in Grozny.