Cash Shortage Hits Iran’s Refineries: Tehran Mulls Bartering For Crude

As sanctions bite deeper, Iran’s cash-starved refineries are cutting back on refurbishment and maintenance programs. The EU’s phasing in of its oil embargo gives Iran a chance to find other buyers. But its impact on the rial has led to Iraq boosting foreign exchange reserves as Iranians flood across its border to buy dollars. Tehran is in talks with buyers for bartering and payment in gold for its crude...