…SEEKS TO REDUCE DEPENDENCE ON RUSSIAN OIL.

Ukrainian deputy prime minister Anatoly Kinnakh and Iran’s economy and finance minister Morteza Mohammad signed May 21 and 22 in Tehran a package of economic agreements. The centerpiece is a trade agreement envisaging barter exchanges of Ukrainian wheat for Iranian oil, thus marking a step forward in Ukraine’s efforts to reduce its dependence on Russian oil. Other agreements envisage mutual protection of investments, possible joint industrial ventures based on Ukrainian technology in the aviation and engineering sectors, and mutual settlement of accounts in currencies other than the U.S. dollar in consideration of the U.S. embargo on Iran. (IRNA cited by UPI and Reuter, Interfax-Ukraine, May 21 &22)

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