The Oilers swapped defencemen with the New York Islanders, sending Marc-Andre Bergeron to Long Island for Denis Grebeshkov.
Grebeshkov was a first-round draft pick in 2002 and has played 33 NHL games, but is spending this season with Yaroslavl Lokomotiv in the Russian league.
The 23-year-old is expected to remain in Russia this season. He'll be a restricted free agent this summer.
Bergeron had spent his entire NHL career in Edmonton. He had 33 goals and 88 points in 189 games.