Iran Connected to All-Eurasian Oil Distribution Network
Russia may start importing crude from Iran next week as part of an oil-for-goods agreement, Iranian Energy Minister Bijan Namdar Zanganeh said… “Much of this will be for cash and we will be using this money to buy commodities from the Russians.”… Iranian oil exports have dropped 50 percent since international sanctions against the country were tightened in 2011 amid a dispute over its nuclear program… Zanganeh said he discussed the deal with Russian Energy Minister Alexander Novak in the Austrian capital on June 3. The country plans to buy “much lower than 500,000 barrels day” in exchange for cash, which Iran will then spend on Russian goods including steel, wheat and oil byproducts, he said.
Editor: the lifting of anti-Iranian sanctions after successful completion of the nuclear deal, will mean that the sky is the limit for Iran. Iranian oil can be pumped via the Russian pipeline network to virtually every location in Eurasia, notably Europe and China, avoiding US navy controlled sea lanes.
[bloomberg.com] – Russia Set to Start Iran Crude Imports Under Oil-for-Goods Deal
Oil pipeline map 2007 [source]
[source] Strategic ellipse encompassing 70% global oil & gas reserves