TEHRAN- Iran and Russia signed a revised contract over a much-debated and long-delayed scheme to barter crude oil with goods and commodities and the agreement will come to effect within a month, Russian Energy Minister Alexander Novak was quoted by Reuters as saying.

According to the deal, Russia will provide goods to Iran in exchange for oil.

According to an earlier report by Tass, the exchange is going to take place via Promsyryeimport affiliate of the Russian Energy Ministry.

Earlier in February, Iran had announced signing an agreement with Russia to export 100,000 barrels of crude oil per day to the country in the form of an oil-for-goods program.

According to Iranian Oil Minister Bijan Namdar Zanganeh, 50 percent of the oil payment will be in cash and the other 50 percent will be in the form of products and services.

HJ/MA