Russian Finance Minister Anton Siluanov says Moscow will act in accordance with United Nations rules and not U.S. regulations on sanctions against Iran in conducting any “oil-for-goods” transactions with Tehran.
“We act on the basis of the decisions made by the United Nations that set sanctions, set product groups which would be sanctioned and we operate within those decisions,” Siluanov told reporters during the International Monetary Fund-World Bank meetings in Washington on Friday.
“There is a nuance. Our American partners have their own legislation which differs somewhat from the provisions set by the United Nations and they follow their own rules,” he added.
On Thursday, U.S. Treasury Secretary Jack Lew warned the Russian minister that any possible oil-for-goods deal between Moscow and Iran in the future could run afoul of U.S. sanctions.
Lew also said it would run counter to an interim deal reached between Iran and the five permanent members of the UN Security Council – Russia, China, France, Britain and the U.S. – plus Germany over Tehran’s nuclear energy program.
Iran and the six nations reached an interim nuclear deal on November 24, 2013, in the Swiss city of Geneva. The deal took effect on January 20.
Under the Geneva deal, the six countries agreed to provide Iran with some sanctions relief in exchange for Iran agreeing to limit certain aspects of its nuclear activities during a six-month period. It was also agreed that no nuclear-related sanctions would be imposed on the Islamic Republic within the same time frame.