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Latin America's share of Soviet Third World imports was high (40 percent in 1982) because of large imports of Argentine grain. As the Soviet Union's main grain supplier, Argentina was the Soviet Union's most significant import partner in the Third World in 1980, 1981, and 1983.
This ministry maintained control over the planning and operation of foreign trade through main administrations for imports and exports and for certain large geographical areas, as well as through foreign-trade corporations holding monopolies for specific commodities or services. [1]
A major strength of the Soviet economy was its enormous supply of oil and gas, which became much more valuable as exports after the world price of oil skyrocketed in the 1970s. As Daniel Yergin notes, the Soviet economy in its final decades was "heavily dependent on vast natural resources–oil and gas in particular".
In the United States, CoCom compliance was implemented by various statutes authorizing the President to regulate exports, including the Export Control Act of 1949, the Export Administration Act of 1969, the Export Administration Act of 1979, the Arms Export Control Act (AECA), the Trading with the Enemy Act, and the International Emergency Economic Powers Act, among others.
In July 1973, the Soviet Union purchased 10 million short tons (9.1 × 10 ^ 6 t) of grain (mainly wheat and corn) from the United States at subsidized prices, which caused global grain prices to soar. Crop shortfalls in 1971 and 1972 forced the Soviet Union to look abroad for grain.
Carter also recalled the US Ambassador Thomas J. Watson from Moscow, [98] suspended high-technology exports to the Soviet Union [97] [99] and limited ammonia imports from the Soviet Union. [100] According to a 1980 paper, the grain embargo hurt American farmers more than it did the Soviet economy.
The Soviet Union shifted to receiving grain from other sources such as by increasing imports from its second highest import partner, Argentina. The sources included most of South America such as Venezuela and Brazil. The Soviet Union still received grain from the United States with regard to the grain agreement in 1973 between the two countries.
Different sources of trade data may provide more or less complete data coverage, and more or less detail: reported vs. mirrored: One key distinction in trade data is between the reporting country (the country that provides data) and the partner country (the country listed as an export partner or import partner in the data provided by a reporting country).