In order to solve the problem of trade imbalance with India, which since the full-scale invasion has increased its purchases of oil from the russian federation 11 times, but has never started a corresponding flow of goods to the russian market, the russian authorities decided to implement a barter scheme, according to which India will start supplying bananas to russia, Federal Service for Veterinary and Phytosanitary Supervision (Rosselkhoznadzor) reports.
According to the russian service, in January 2024, the first batch of bananas left India for russia. The next delivery is scheduled for the end of February.
Bananas are supposed to patch the "hole" in the russian-Indian trade balance, which, according to experts' calculations, amounts to approximately USD 39 billion. This is the money with which Indian refineries paid for russian oil, complying with the requirement to conduct operations in national currencies.
The Indian government was offered by the russians to export machinery to the russian federation: pistons, oil pumps, ignition coils, bumpers, equipment for the textile industry, as well as threads and paints and almost 200 products for metallurgy. But it was not possible to move the process from a dead point. A compromise was found only on bananas.
Indian bananas should replace Ecuadorian bananas on the russian market, because Rosselkhoznadzor has banned their import, having apparently discovered a polyvorous humpback fly in several batches. But the corresponding decision was made immediately after the government of Ecuador announced the transfer of Soviet weapons to the USA for further shipment to Ukraine.
Currently, India is one of the main buyers of russian oil. At its peak - in the summer of 2023 - India purchased more than 2 million barrels of russian oil every day. By the beginning of 2024, supplies have decreased sharply - to 1.2 million barrels per day.
As previously reported, there is a possibility that India supplies weapons to Ukraine through NATO countries.
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