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Russia says volumes in Iran oil deal to be set by market
August 6, 2014 / 1:55 PM / in 3 years

Russia says volumes in Iran oil deal to be set by market

MOSCOW, Aug 6 (Reuters) - Russia’s Energy Minister Alexander Novak said on Wednesday Moscow will be able to participate in arranging shipments of Iranian oil but added the volumes would be determined by the market.

On Tuesday, Russia puzzled the markets when it first said a landmark oil-for-goods deal had been agreed with Iran but later withdrew the statement.

On Wednesday, a new statement gave no indication of volumes or the timeframe of the deal: “Based on Iran’s proposal, we can participate in arranging crude oil shipments, including to Russia... Volumes are to be determined by market needs.” (Reporting by Katya Golubkova, editing by David Evans)

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