The head of the Russian-Venezuelan Chamber of Commerce, Roman Frolenko, said on Friday that the trade shipping route between Russia and Venezuela will start operating soon.

"We want to [launch the corridor] in the nearest future. On March 15 we had a video conference with all the village councils of Latin America. They are not bureaucrats and they want to work and cooperate, they have already given plans of what they need. Russian Agricultural Bank has already joined this project," the official told Sputnik.

Frolenko indicated that the three options for the routes from Russia are the ports of Sevastopol, Saint Petersburg, and Novorossiysk.

"The route is very good. If it's Sevastopol, we take 21 days, if Saint Petersburg, nearly 19 days. For all types of goods this route is very favorable," he noted.

Related News

Oil prices rise on Russia supply fears and Fed policy outlook

Belarus hosts US officials at joint Zapad drills with Russia

The official confirmed that the transport corridor will head to the port of Puerto Cabello in Venezuela "because it has a grain terminal with capacity of 250 thousand tonnes and capacity for expansion."

"There is also a terminal for liquid and dry fertilizers storage. And there is a platform to put agricultural machinery. We were provided with a terminal for sunflower oil storage. Establishing this corridor has been underway for a long time already," he pointed out.

Earlier, Frolenko told Sputnik that a $300 million per month increase is predicted as a result of trade between Russia and Venezuela and that amount excludes oil sales.

Late last year, Venezuelan Foreign Minister Carlos Faria told Sputnik that trade between the countries had been complicated due to the sanctions imposed by Western countries, but had not become impossible. The parties are already finding ways to continue cooperation, he added.

Read more: New shipping route set up to facilitate trade between Iran, Venezuela