“Countertrade” is a generic term developed in the 1980s to identify a range of barter-like transactions under which two sets of obligations on two opposing sides are legally linked to each other. Since the Islamic Republic of Iran has involved in these transactions especially for the development of oil and gas fields and such involvement has recently received a lot of attention in the media, this article tries to provide a better understudying of various mechanisms known as countertrade. This article briefly discuss different mechanisms of countertrade and tries to highlight their distinct feasters. Barter, counter-purchase, advanced- purchase, buy-back, offsets, swap, clearing arrangements, switch arrangements, exchange of debts.
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