A Russian company will reportedly exchange chickpeas and lentils for Pakistani mandarins and rice.
Russia is having difficulty making cross-border payments due to the increasing sanctions of the US and its allies. According to the Russian state news service Tass, a Russian company plans to exchange chickpeas and lentils for Pakistani tangerines, rice and potatoes. The deal comes amid reports that Russian companies are struggling to make cross-border payments due to increased sanctions by the US and its allies since Russia invaded Ukraine in 2022.
Russia’s Astarta-Agrotrading will trade 20,000 tonnes of chickpeas from Pakistan’s Meskay & Femtee Trading Company in exchange for the same amount of rice.
The company will also trade 15,000 tonnes of chickpeas and 10,000 tonnes of lentils in exchange for 10,000 tonnes of potatoes and 15,000 tonnes of mandarins from the Pakistani company.
Russia’s search for alternative international trade channels is not new. Russia, which previously held barter talks with India and China, also passed a bill in July to allow trade payments with crypto.
Ukraine imposes new sanctions against Russia, Iran and China
