Russia and Iran strike $10bn energy deal

America used to make deals, now they procrastinate and Russia mops up. As does China.

American sanctions sound good perhaps to some parties but clearly not Europe, but 10B in a power deal, 20B in an oil deal, and trade potential rising to 40B from 5B. Seems like a win win proposal before any backlash from Russia over new sanctions. And one can assume that USD will not be present. So whose lost opportunity is this?

It seems once upon a time America led the world in doing deals like this to grow the economy. What happened to this type of deal making?

RIA Novosti/Dmitry Astakhov

28 April 2014

Iran and Russia are negotiating a power deal worth up to $10 billion. The construction of new thermal and hydroelectric plants and a transmission network are in the works.

Iran’s Energy Minister Hamid Chitchian met his Russian counterpart Alexander Novak in Tehran to discuss the power deals, according to the Mehr news agency. They include the possibility of Russia exporting 500 megawatts of electricity to Iran.

Moscow is discussing with Tehran the trade of 500,000 barrels a day of Iranian oil for Russian goods. The deal could be worth as much as $20 billion, and has rattled Washington because it could bring Iran's crude exports above a one million barrels a day which is the threshold agreed upon in the nuclear deal.

Tehran’s ambassador to Moscow Mehdi Sanaei said on Friday that the implementation of Iran-Russia energy agreements hold the key to economic expansion.

Sanaei underlined the importance of promoting of Iran-Russia cooperation and called for the implementation of oil, gas and electricity deals, according to Press TV.

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