0640 GMT January 17, 2021
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Iranian Minister of Trade Alireza Razm-Hosseini said the country is ready to barter its electricity with rice from Pakistan, saying the launch of the exchange mechanism is waiting for a final decision by financial authorities in Islamabad.
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Iran’s Trade Promotion Organization (TPO) is tracking the implementation of a bartering deal with 10 countries, announced the TPO’s managing director.
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Iranian and Syrian officials have held talks on conducting barter trade and transactions.
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Iran, Malaysia, Turkey and Qatar are considering trading among themselves in gold and via barter trade as a hedge against any future economic sanctions on them, Malaysian Prime Minister Mahathir Mohamad said on Saturday.
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Iran is to sign a contract with a Japanese company for the restoration of a power plant which will be financed through a barter mechanism involving Iran’s oil.
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Iran’s Minister of Industry, Mine and Trade Reza Rahmani traveled to Pakistan to follow up on an idea floated during a recent meeting between leaders of the two neighboring countries to set up a barter exchange mechanism for trading goods.
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Pakistani prime minister’s advisor on Commerce, Textile, Industries and Production said Iran and Pakistan were working on a barter trade deal mechanism to enhance bilateral trade.
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Iran is open to resuming barter payments for oil as US sanctions threaten its access to the global financial system, reviving a method used during sanctions time earlier this decade.
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Iran's crude oil exports to Russia under an oil-for-good barter scheme will begin in the near future, said deputy oil minister on Saturday.
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Iran has reportedly signed an agreement with Russia under which it will sell crude oil to Russia in exchange for products.
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European traders say Iran's state grains agency has offered to barter about 200,000 metric tons of locally-produced durum wheat with 250,000 tons of milling wheat.
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European traders say Iran’s state grains agency has offered to barter about 200,000 metric tons of locally-produced durum wheat with 250,000 tons of milling wheat, a news agency says.
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Members of the Rice Exporters Association of Pakistan (REAP) are pressing the government to make arrangements for rice export to Iran in exchange for the money Pakistan has to pay for electricity import.
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A planned barter arrangement between Iran and Russia is proving harder than anticipated, with an Iranian official saying he didn’t know when major shipments would begin.
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Western media reported over the weekend that Russia and Iran will soon start what has long been described as an "oil-for-food" barter scheme. They quoted a report by Bloomberg in which Iran's Oil Minister Bijan Namdar Zanganeh had said the scheme will be launched within the next days.
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