Photo: Goran Tomasevic / Reuters
Zimbabwe is discussing a three-year deal at $ 1.4 billion for the supply of Russian fuel in exchange for diamonds. About it writes the local edition of Business Times, citing sources.
According to them, the terms of the transaction are such that Russia will monthly receive diamonds from state company Zimbabwe Consolidated Diamond Company in the amount of $ 40 million, to evaluate them and then to put partner fuel.
From the Russian side, according to the newspaper, the deal will involve “ALROSA” and “Tatneft”. Trading through a Swiss “daughter” of the last (Tatneft Europe) plan to hold a supply of fuel. However, the oil company information has not yet commented on, and the diamond part in the scheme deny it, writes “Interfax”.
Meanwhile ALROSA in July 2019 signed an agreement to establish a joint venture with the Zimbabwe Consolidated Diamond Company. By its terms the Russian company in 2020 will allocate nine million dollars, and 2021-m — $ 14 million on greenfield exploration and evaluation of diamond potential of kimberlite pipes open.
This is not the first case when Zimbabwe receives fuel through barter. In the early 2000s during the fuel crisis, the country received diesel from Libya in exchange for beef, coffee and tobacco. The current crisis came at the beginning of 2019. Due to the shortage of fuel has sharply increased transport costs that has hit local businesses. In the country, hyperinflation has begun, the publication of data on this indicator on an annual basis suspended until February 2020. However, according to experts, in October the inflation rate in Zimbabwe on an annual basis, increased to 440 percent.
Video, photo All from Russia.