Manturov advocated the expansion of barter in international trade – Kommersant

The head of the Ministry of Industry and Trade Denis Manturov believes that the barter mechanism could become one of the options for avoiding payment in dollars in international trade. According to him, it can be realized both in terms of national currencies and directly in physical weight. He proposed using the barter scheme more widely.

“We supply one product and take another product in return. Brazil is no exception in terms of such mechanisms. They are not new, they just need to be used. We are with our national currency, which will provide, in fact, the format, so if you want, count it in physical weight, if you want, translate it in local currency,” the minister explained (quote from Interfax).

Denis Manutorov pointed out that cooperation with Brazil under the barter scheme is interesting to Russia not only in the field of agriculture. He believes that cooperation with Brazil could develop with Embraer in the aircraft industry.

“The Embraer company, I know this company very well, unfortunately, now they work more with Boeing, but I hope that we, as members of BRICS, will sooner or later be more active in the field of aviation,” the minister added.

According to “Vedomosti”, operations for the exchange of goods in international transactions are increasingly registered by the Federal Customs Service. The growing popularity of barter was confirmed to the publication by the Ministry of Industry and Trade and the Russian Union of Industrialists and Entrepreneurs.

More details in the material “Trade returns to barter”.

Anastasia Larina