Ukraine To Swap Wheat For Oil With Libya

Ukraine Prime Minister Yulia Tymoshenko has returned to Kiev from Libya saying that the two countries have agreed a deal whereby 100,000 hectares of Ukrainian land will be used to grow wheat "on contract" for the North African nation.

As part of a raft of two-way deals Ukraine, who famously suffered gas supply problems with Russia at the height of the winter, will get 600,000 barrels of crude oil from Libya.

Other oil-rich nations such as Saudi Arabia, United Arab Emirates and Bahrain have all been investigating doing similar deals with foreign countries in a strive towards food security after prices for wheat, flour, rice and other staples soared little more than a year ago.