September 17, 2014

Argentina has agreed to export more food products to Russia in the wake of the Ukraine-Russia territorial crisis which has sparked off an exchange of sanctions between Moscow and Western nations.

The development comes as Russia and Argentina may increase bilateral trade in 2015 to US$3 billion dollars which also includes energy projects, said Sergei Dankvert, the head of the Russian agrarian supervising agency at the helm of bilateral inter-governmental commission on trade and economic co-operation.

Food supply would account for half of the growth.

According to Dankvert, Russia has agreed with Argentina on increasing meat and dairy exports to the Federation. "Before retaliatory measures were imposed, Argentina has doubled supplies of butter, cheese and seafood for seven months of 2014," he added.