Russia trades chickpeas for mandarins to skirt sanctions

Russia must resort to desperate measures to overcome the effects of Western sanctions. The authorities in the Kremlin have agreed to a barter trade system, reports "The Moscow Times".

According to the agreement, Russia will export 20,000 metric tons of chickpeas, while Pakistan will supply the same amount of rice.

Another contract stipulates that Russia will send 15,000 metric tons of chickpeas and 10,000 metric tons of lentils in exchange for 15,000 metric tons of mandarins and 10,000 metric tons of potatoes, as reported by the Russian state news agency TASS.

This unusual trade agreement was concluded at Moscow's first Pakistan-Russia Trade and Investment Forum. It marks another step in the Kremlin's search for allies across Asia.

Russia's full-scale invasion of Ukraine and the subsequent wave of sanctions imposed by the US, EU, and the United Kingdom on the aggressor country and key figures in the regime have made continuing their previous methods of trade difficult.

An alternative agreement allows Russian companies to bypass sanctions and economic controls due to the absence of bank transactions.

Russia has already tried to establish similar relations with China, although plans for a barter exchange of metals and agricultural products proved difficult to implement. This type of agreement was common between China and the Soviet Union, as both communist states depended on each other for development.

In May, Russian President Vladimir Putin and Chinese President Xi Jinping held a three-day summit, during which countering US sanctions on mutual payments was a key topic of discussion.

Russia also strengthened its alliance with Iran, and Western sanctions are a factor that connects both countries. It is believed that Iran played a significant role in supplying Moscow with drones for use on the Ukrainian battlefield when Russian resources began to dwindle.

Source: xpress.co.uk