MOSCOW, July 17. /TASS/. Moscow and Caracas are discussing new terms and routes for resuming supplies of Russian milling wheat to Venezuela, the Russian cabinet said in a statement following a meeting between Russian Deputy Prime Minister Alexander Novak and Venezuelan Oil Minister Pedro Rafael Tellechea.

The officials are co-chairmen of the Russian-Venezuelan intergovernmental commission.

"New commercial terms and potential logistical arrangements for resuming supplies of Russian milling wheat are being discussed with Venezuelan partners," the statement said.

It was stated during the meeting that trade between Russia and Venezuela had shot up by 47% from January to May of 2023, compared with a year earlier, the cabinet said. The increase that had been caused, among other things, by the doubling of Russian exports of fertilizers and soybean oil, according to the statement. Russian imports of Venezuelan coffee and cocoa jumped by 150% and 80%, respectively, the cabinet said.

Russian pharmaceutical companies have also expanded the range of products they sell to Venezuela, which now includes insulin and flu vaccines. Russia has already supplied 7 million shots of insulin to Venezuela and plans to start producing it in the Latin American country next year.