The Russian company Astarta-Agrotrading entered into an agreement to export chickpeas and lentils in exchange for Pakistani tangerines and rice.
Russian and Pakistani companies have launched a barter trade mechanism amid difficulties arising from making mutual payments, The Moscow Times reports.
Russian company Astarta-Agrotrading will export chickpeas and lentils in exchange for tangerines and rice from Pakistani Meskay+Femtee Trading Company. In particular, the Russian company will provide 20 thousand tons of chickpeas, while the Pakistani company will provide 20 thousand tons of rice, the agreement says.
Under another contract, the Russian side will provide 15 thousand tons of chickpeas and 10 thousand tons of lentils in exchange for 15 thousand tons of tangerines and 10 thousand tons of potatoes.
“There are certain difficulties in making mutual payments between Russia and Pakistan. Therefore, these two companies have decided to use barter trade,” explained Pakistani Deputy Minister of Trade Nasir Hamid.
Barter trading schemes, which do not involve money transfers or bank payments, help companies avoid unnecessary attention from Western sanctions monitors.
The Ministry of Economic Development of the Russian Federation has prepared a navigator for foreign trade barter agreements, according to which various options for barter and its implementation are offered, including trilateral barter agreements.
We remind you that the United States has imposed sanctions against Russian virtual financial platforms PM2BTC, Cryptex and individual citizens of the Russian Federation for cybercrime and money laundering.
Source: korrespondent
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