Russia and Venezuela plan to set up a shipping company.

The Russian and Venezuelan governments are planning to jointly set up a shipping company to promote trade between the two countries that have been severely sanctioned. The shipping company can open a route to Sevastopol, Crimea, to transport food and industrial products.

Vladimir Konstantinov, chairman of the Crimean National Committee, told the Tass news agency that Venezuela is interested in expanding bilateral trade. Crimea is ready to provide grain, wine, chemical products, bromine production, electrical appliances, welding equipment and ships. Venezuela is ready to provide coffee, cocoa, meat, seafood and fruit. To this end, the two sides support the idea of establishing a joint Russian-Venezuelan shipping company.

Roman Frolenko, head of the Russian-Venezuelan Chamber of Commerce, told RIA Novosti that the transport corridor between the two countries may be started and run in early summer. The main Venezuelan destination port is puerto cabello, while Russian destination ports may include st.petersburg, Sevastopol and Novorossiysk.

rolenko said that the level of trade between the two sides will be very high, and the calculated trade volume is about 300 million US dollars per month, not including oil. Puerto cabello has a grain terminal with a capacity of 250,000 tons, which can be expanded, and now there is a project to expand the terminal.