Vladimir Putin signs historic $20bn oil deal with Iran to bypass Western sanctions

‘Vladimir Putin has agreed a $20bn (£11.8bn) trade deal with Iran that will see Russia sidestep Western sanctions on its energy sector.

Under the terms of a five-year accord, Russia will help Iran organise oil sales as well as “cooperate in the oil-gas industry, construction of power plants, grids, supply of machinery, consumer goods and agriculture products”, according to a statement by the Energy Ministry in Moscow.

The Russian government issued a new statement on Wednesday after mysteriously withdrawing a similar release on Tuesday.’ Read more