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US May Introduce New Sanctions Against Russia Over Iran Oil Deal - Reports

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The United States may introduce new sanctions against Russian companies due to the recently signed oil deal between Moscow and Tehran, the US Treasury’s Under Secretary for Terrorism and Financial Intelligence David Cohen said Thursday, as reported by Reuters.

MOSCOW, August 7 (RIA Novosti) - The United States may introduce new sanctions against Russian companies due to the recently signed oil deal between Moscow and Tehran, the US Treasury’s Under Secretary for Terrorism and Financial Intelligence David Cohen said Thursday, as reported by Reuters.

Although it was still unclear whether Russia and Iran had agreed on an oil-for-goods swap, Cohen said Washington had warned Russia against such a deal under the threat of additional US sanctions, according to Reuters.

Moscow and Tehran signed a five-year memorandum of understanding on Monday aimed at boosting bilateral economic cooperation.

The agreement also envisions Russia taking an active role in the construction and overhaul of Iran’s energy production facilities and electric grids. The next high-profile meeting between the countries' delegations is scheduled to take place in Tehran on September 9-10.

The memorandum followed media reports claiming the White House had sought to derail the Russian-Iranian agreement on crude deliveries with threats of tougher sanctions against both countries.

In January, Reuters sparked controversy when it reported for the first time that Moscow and Tehran had allegedly been mulling a goods-for-oil deal worth some $20 billion that could see Russia buying up to 500,000 barrels of Iranian crude a day in return for its goods and equipment.

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sanctions, US Treasury, David Cohen
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