Tehran’s offer comes a week after Pakistani officials revealed that Iran had asked to import a million tonnes of wheat in a barter deal, with the latest Western sanctions over Tehran’s nuclear program disrupting critical food imports.
"It is only an initial offer of 80,000 barrels (per day) on deferred payment at the moment," Irfan Qazi, a spokesman for Pakistan’s Ministry of Petroleum and Natural Resources, told Reuters.
"We don’t know about the modalities or how it can be worked out yet. A delegation from the ministry will visit Iran in the middle of March to follow up on this offer."
Pakistan would import Iranian fertilizer and iron ore under that wheat proposal.
Energy-starved Pakistan is looking to increase its fuel imports to reduce power shortages that have crippled industry, prompted riots and shaved percentage points off its GDP growth. […]
Tehran has dramatically widened its reach on international grain markets in February, using currencies other than dollars and euros as alternative trade finance, with dealers also reporting talk of barter deals involving oil and gold.
Iran has to import wheat?
What’s going on with all these so many countries having need to import such basic items?