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To promote trade between the United Kingdom and the Russian Socialist Federal Soviet Republic, the Anglo-Soviet Trade Agreement was a pact signed on March 16th, 1921. The Chancellor of the Exchequer..
Robert Horne, and the Commissar of Foreign Trade, Leonid Krasin, both signed it. Lenin's New Economic Policy, designed to jump-start the sluggish Russian economy, downplayed socialism and placed an emphasis on trade relations with capitalist nations. Lenin's offer of a trade deal was initially accepted by Britain. The British blockade was lifted, and British ships could again enter Russian ports. The agreement to forgo antagonistic propaganda came from both parties. De facto diplomatic recognition was achieved, and an era of intense trading began.
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