BRITAIN TO GET GRAIN FROM RUSSIA, PAID FOR IN STERLING FUNDS
LONDON, Nov. 7 (Rec. 6 pm). —Britain has reached an agreement with Russia for the supply of 800.000 tons of Soviet grain, the Minister of Food announced today.
Britain will pay for the grain in sterling and has not committed herself to sell Russia anything in exchange.
Apart from certain war-line machine tools banned for export to East. European countries last September, Russia will be free to spend the money throughout the sterling area—as she has been in previous years. She is expected to spend most, of the sterling on rubber, wool and other Commonwealth materials.
It. is understood Russia’s supplies of grain are smaller than last year, because of shortages in Russia and her East European neighbours. Russia was able to deliver last year’s supplies of coarse grains to Britain only by taking from satellite countries food which they could ill afford. Under last year’s contract Britain got 1,000,000 tons of coarse grains.
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Wanganui Chronicle, 8 November 1950, Page 5
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165BRITAIN TO GET GRAIN FROM RUSSIA, PAID FOR IN STERLING FUNDS Wanganui Chronicle, 8 November 1950, Page 5
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