Russia and Venezuela, two heavily-sanctioned countries, are exploring ways to boost mutual trade to counter geopolitical challenges. The two sides have recently announced their plans to establish a joint shipping company, with the trade connection expected to start “soon”.
Several ports are currently under consideration for the mutual collaboration. According to a report by Trade Winds, the ports on the Russian side could include Saint Petersburg Port, Novorossiysk Port and the Russian-occupied port of Sevastopol in Crimea. For Venezuela, Puerto Cabello Port would be the main hub hosting this exchange.
Cargo transported through this trade corridor is said to include agricultural produce, grains, oil, and natural gas. Speaking to Russian media, chairman of the state council of occupied Crimea Vladimir Konstantinov, said, “Crimea is ready to supply grain, wine, chemical products, bromine production, electrical appliances, welding equipment, ships . . . [and] Venezuela is ready to supply coffee, cocoa, meat, seafood and southern fruits to Crimea.”
The Russian-Venezuelan Chamber of Commerce (RVCC) estimates the level of trade between the two countries to be $300 million a month without oil, according to Roman Frolenko, head of RVCC.
