1118 GMT July 21, 2018
OPEC's third-largest producer is unable to bring in dollars or euros in exchange for crude because of 'banking problems', said Asadollah Qarekhani, the spokesman for Parliament's Energy Commission, ILNA reported.
It will accept as payment goods including medical equipment and agricultural products. "We have informed our oil customers that we will only buy their commodities if they buy our crude," Qarekhani said.
Iran resorted to barter during the last round of US sanctions that were in place from 2012 to 2016. At that time, the sanctions restricted the amount of oil consumers could buy from Iran and used financial constraints to keep payment for the crude in escrow accounts in the purchasing country.
In 2016, after sanctions were eased, Iran continued to swap crude for refined products it needed for domestic transport.