P.M. BRIEFING : Japan Firm Trades for Soviet Oil

From Times Wire Services

One of Japan’s three top trading houses, C. Itoh & Co., will send manufactured goods to the Soviet Union in exchange for oil in a deal worth $9 million, a company spokesman said today.

The pact will cover 16,000 tons of oil from the Soviet Pacific island of Sakhalin that C. Itoh ordered in October. C. Itoh will send consumer electronics, vehicles, textiles and leather to the Soviet Union later this month.

Last week, C. Itoh and five other Japanese trading houses announced that they would send badly needed food, medicine and computers to the Soviet Union in exchange for oil.