(Adds details of deal and promised Russian production cuts)
BEIRUT Feb 21 Iran announced on Tuesday it will
begin selling 100,000 barrels of oil a day to Russia within the
next 15 days and receive payment half in cash and half in goods
and services, the Iranian Students' News Agency (ISNA)
Iranian Oil Minister Bijan Namdar Zanganeh provided details
about the deal after meeting Russian energy minister Alexander
Novak in Tehran, ISNA said.
“Of course we were ready to sign the contract tonight but
our Russian counterpart was in a hurry and had to go to the
airport,” Zanganeh said. He added that a number of Russian
companies have already signed memorandums of understanding with
Zanganeh said that Russia will be cooperating with an OPEC
decision last November to cut production levels and will be
reducing its oil output by 300,000 bpd, according to ISNA.
(Reporting by Babak Dehghanpisheh; Editing by Robin Pomeroy)