Russia 2014

Russia Poised to Announce Oil Deal With Iran

Oil sales are the big factor here, as US sanctions have severely limited Iran’s ability to export crude, and Russia has large enough market share to be able to circumvent those sanctions. The deal is estimated to have Russia buying 500,000 barrels per day, which is about half of Iran’s current export level.

Vladimir Putin signs historic $20bn oil deal with Iran to bypass Western sanctions