September 30, 2022
2 mins read

Taliban ink deal for discounted Russian oil, gas and wheat

This deal comes as Russia has been hit hard by sanctions imposed after its invasion of Ukraine…reports Asian Lite News

Taliban have inked an agreement to purchase and import Russian wheat, gas, and oil, the officials of the Islamic group said.

A Taliban spokesperson said products including gasoline, diesel, gas, and wheat would be purchased at a “special discount” in Russian currency, Khaama Press news agency reported.

Although Russia had agreed to the discounted trade deal, the Taliban official did not provide any details on the pricing and payment methods.

This deal comes as Russia has been hit hard by sanctions imposed after its invasion of Ukraine. The punitive measures from the Western countries have forced Moscow to shift its exports from Europe to Asia.

Meanwhile, economic development, trade and transit remained a high priority for the Taliban, since its accent to power in August last year.

The Islamic group has continued diplomatic and economic engagement with regional countries, whose representatives stated publicly that formal recognition of the de facto authorities as a government was not imminent.

This deal comes after high-level Taliban delegations visited Russia earlier this year. Aside from Moscow, several companies from regional countries have shown interest in investing in the extractive industries sector in Afghanistan.

The Taliban leadership have consistently said that they are looking for trade deals with the international community.

This latest agreement with Russia move could help to ease the isolation that has effectively cut it off from the world following their takeover of Afghanistan last year.

A UN report released on Tuesday said the Afghan economy remained greatly weakened by the severe economic contraction and the banking and financial crisis that followed the Taliban takeover.

“Available data suggest that six-month revenue collection through June, driven by customs and non-tax sources, is on par with the level recorded for the same period last year, and exports, driven by coal and fruits, surpassed past performance,” said the latest quarterly report of the UN Secretary-General Antonio Guterres to the Security Council.

The sudden stop of aid inflows, however, accompanied by political uncertainty, inadequate access to services and women’s exclusion from economic participation, continued to lead to slow growth, the report added.

According to the UN report, Humanitarian needs were compounded by the sharp economic decline and the

devastating combination of decades of conflict, recent earthquakes, recurring natural hazards and protracted vulnerability. (ANI)

ALSO READ: UN envoy sees need for engagement with Taliban

Previous Story

World Bank slashes China’s growth projection to 2.8%

Next Story

India-US ties has capability, potential, says Jaishankar

Latest from -Top News

India Praises UAE’s Global AI Benchmark 

Kaustubh Dhavse, Maharashtra CM’s OSD, hailed the UAE’s AI model as a global benchmark driving digital innovation and attracting global talent…reports Asia Lite News Kaustubh Dhavse, Joint Secretary and Officer on Special

India, Saudi Hold Inaugural Army Staff Talks 

A key highlight of the talks was the exploration of collaboration in operational logistics, battlefield management systems, and niche technologies.  The inaugural Army-to-Army Staff Talks (AAST) between the Indian Army and the

Arab World Condemns Kashmir Terror Attack 

The Arab world has strongly condemned the deadly terrorist attack in Pahalgam, with leaders from Kuwait, Saudi Arabia, the UAE, Qatar, Iraq, Jordan, and the broader League of Arab States offering condolences

Modi’s ‘Neighbourhood First’ in Action

“The 1st tranche of 17,030 vials of Vaccines for the Immunisation of patients with Thalassemia was handed over to Nepal…reports Asian Lite News In pursuance of its commitment to Prime Minister Narendra

Wagah Busy with Exiting Visitors

After the sudden developments, at the Attari-Wagah Border, the stream of Pakistani tourists was observed seeking urgent clarity and assistance….reports Asian Lite News Following the horrific terrorist attack in Jammu and Kashmir’s
Go toTop

Don't Miss

China Wants a Taliban Govt in Afghanistan

For long, the Chinese have wanted to play a leading

Afghan female comedian missing for a month

The relative said Sunday that she went missing from her