Pakistan, Russia ink barter deal to boost agri trade

Two agriculture companies from Russia and Pakistan have signed barter deals to trade chickpeas and lentils from Russia in exchange for rice, mandarins and potatoes, Russia’s TASS news agency reported on Tuesday. Grappling with payment issues due to Western sanctions over Russia’s invasion of Ukraine in February 2022, Moscow is pursuing barter deals that strip away the need for payment exchange, reduce the visibility Western countries have over its trade flows, and limit currency risk. Russian firm Astarta-Agrotrading agreed to supply 20,000 tonnes of chickpeas in exchange for 20,000 tonnes of rice from Pakistan’s Meskay & Femtee Trading Company, TASS reported. Under another contract, Astarta agreed to supply 15,000 tonnes of chickpeas and 10,000 tonnes of lentils for 15,000 tonnes of mandarins and 10,000 tonnes of potatoes.