Russian minister to visit Iran, oil-for-goods deal possible topic

Russia's Economy Minister Alexei Ulyukayev will visit Iran in April on a trip that might include discussions on an oil-for-goods deal. Iran Daily, in its Thursday editions, quoted Ulyukayev as saying the visit will focus on "a wide range of trade and economic issues," but Russian media reported in mid-January that the two countries would discuss bartering Iranian crude oil for Russian commodities. Russia's Kommersant business daily said on Jan. 16 that under the barter deal, Russia could import up to 500,000 barrels of Iranian crude oil per day. Such deliveries would not violate United Nations trade restrictions on the Islamic republic, Russian officials said, but the United States expressed "serious concern" over the reported discussions because they could potentially boost Iran's current oil export by more than 50 percent. Iran's estimated daily crude export was believed to have declined from about 2.5 million barrels per day in late 2011 to less than 1 million barrels per day at the end of last year, according to Tehran Times. In addition to UN sanctions, the United States and EU nations have imposed their own unilateral sanctions against Iran's oil exports over Tehran's disputed nuclear program. Their sanctions also penalize countries and companies dealing in the area with Iran.