US warns Russia against oil-for-goods exchange with Iran

January 15, 2014 21:06


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WASHINGTON -  The United States is repeating its warning to Russia that an oil-for-goods trade agreement with Iran would violate the interim accord reached in Geneva on the Islamic Republic's nuclear program, as well as multiple Security Council resolutions.

"If the deal moves forward, it would raise serious concerns, as it would be inconsistent with the terms of the P5+1 agreement with Iran and potentially trigger US sanctions against the entities and individuals involved in any such transactions," White House press secretary Jay Carney told reporters.

The P5+1— the US, United Kingdom, France, Russia, China and Germany— agreed to offer Iran $7-10 billion in sanctions relief explicitly outlined, in exchange for Iran's suspension of uranium enrichment and of construction on a heavy-water plutonium plant in Arak.

Iran's oil exports have fallen 60 percent in two years to just under a million barrels per day, after the international community agreed on a series of penalties against its government for continuing work on an expansive nuclear program suspected to have a military nature.

The Moscow-Tehran deal would increase that number substantially— perhaps by over 500,000 barrels, in a deal worth $1.5 billion a month.

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