Russia, Iran in oil-for-goods barter deal

LONDON/ANKARA, Jan 10 (Reuters) - Iran and Russia are negotiating an oil-for-goods swap worth $1.5 billion a month that would enable Iran to lift oil exports substantially, undermining Western sanctions that helped persuade Tehran in November to agree to a preliminary deal to curb its nuclear programme.

Russian and Iranian sources close to the barter negotiations said final details were in discussion for a deal under which Russia would buy up to 500,000 barrels a day of Iranian oil in exchange for Russian equipment and goods.

"Good progress is being made at the moment with strong chances of success," said a Russian source. "We are discussing the details, and the date of signing a deal depends on those details." The Kremlin declined comment.

"Our desire is to sign the deal as soon as possible," said a senior Iranian official, who declined to be named. "Our officials are discussing the matter with the Russians and hopefully it will be inked soon, regardless of whether we can reach a (nuclear) agreement in Geneva."

It is not clear whether the deal would be implemented before the finalisation of a nuclear agreement outlined in Geneva in November between Iran and six world powers.

Nor is it clear how Russia would justify to other powers a barter deal that could jeopardise the nuclear negotiations by easing the economic pressure on Iran.