Russia can trade by barter
The day before, the Ministry of Economic Development offered to trade with insolvent countries by barter, as well as using clearing tools. According to the head of the department for the development and regulation of foreign economic activity of the ministry, Lilia Shchur-Trukhanovich, the Ministry of Economic Development should return to the study of the issue of what will happen for this change in legislation. Boris Kheyfets noted that the practice of barter trade was widespread during the Soviet era.
“At one time I was long old, not returned to the Soviet Union. By the date of the collapse of the USSR, the official debt rate is 150 US dollars. Ultimately, we forgave a lot, up to 70% of all debts were realized. A very large amount was written by friendly countries that gave loans or provided technical assistance. But we received from India where we managed to agree on a compromise exchange rate for the ruble… Barter trades are what reigned in the economy in the 1990s, this is a step backwards. In some countries this may be: announced to us that it can supply medicinal plants and minerals. Also Cuba, Mongolia. First of all, these are friendly countries,” Kheifets said.
According to him, barter trade would not give much economic effect. At the same time, the professor noted that in today’s importance of the situation, any judges. Heifetz also noted that barter trade would also take place with African countries.