By Bloomberg News

A Russian company will export chickpeas and lentils in exchange for tangerines and rice from Pakistan amid difficulties in cross-border payments due to Western sanctions, Tass news service reported.

Under an agreement signed at the Pakistan-Russia Trade and Investment Forum in Moscow on Tuesday, Russia’s Astarta-Agrotrading will supply 20,000 tons of chickpeas while Pakistan’s Meskay & Femtee Trading Company will deliver the same quantity of rice, according to state-run Tass.

The Russian side also plans to supply 15,000 tons of chickpeas and 10,000 tons of lentils in exchange for 15,000 tons of tangerines and 10,000 tons of potatoes from Pakistan.

Russia is trying to find alternative ways to pay for imports and receive money for exports amid mounting US pressure on banks in countries that trade with the heavily sanctioned nation. Russia may also begin barter trading schemes with China, Reuters reported in August.

Published Date: October 2, 2024