russia is forced to return to barter deals due to western sanctions – Financial Times
russian exporters are turning to barter deals, reminiscent of the 90s, to counter payment delays caused by Western sanctions, as reported by the Financial Times.
Key points from the article:
▫️ A russian agricultural trader struck a barter deal with Pakistani companies, exchanging chickpeas for tangerines.
▫️ The yekaterinburg customs department made a barter deal with a Chinese company to import household appliances and construction materials in exchange for flax seeds.
▫️ This practice lowers tax revenues to the russian budget.
▫️ Numerous small businesses report that transactions have been suspended for months due to stricter banking controls on trade with moscow.
The barter arrangements are unlikely to solve russia’s trade issues. It signals a worsening economic situation and growing isolation in the trade sector due to Western sanctions.
Earlier, the Center reported (https://t.me/TheCenterforCounteringDisinfo/7925) on the “unprecedentedly difficult” situation in russia’s economy.
