The following report is by Reuters:
Bilateral payment delays were high on the agenda when President Vladimir Putin visited China in May and although workarounds have emerged, such as using small, regional Chinese banks whose activities are harder for Washington to detect, payment issues remain.
Barter trading would allow Moscow and Beijing to circumvent payment issues, reduce the visibility Western regulators have over their bilateral transactions, and limit currency risk.
Russia is developing regulations for barter trading and the Russian sources Reuters spoke to are working on the assumption that China is doing the same.
The sources, who requested anonymity due to the non-public nature of the information, are all closely involved in bilateral trade.
A top manager at a large Russian bank said a barter scheme was being prepared, but refused to disclose details. One source who works in payments said a trade with Russia exporting food products was under discussion.
Russia’s industry and trade ministry and China’s commerce ministry did not respond to questions about the commodity barter trade.
Read the rest of the report here. Learn more about it and how this affects the U.S. dollar in the video below:
AUTHOR COMMENTARY
And yet let’s not forget that Treasurer Janet Yellen admitted recently that sanctions have been such a bust that it’s hurt the U.S. dollar. Gee, ya think so, Ms. Yellen?
Case-in-point, the American empire is at an end, and attempts to try and stymie everyone else is futile and in vain.
Job 12:23 He increaseth the nations, and destroyeth them: he enlargeth the nations, and straiteneth them again.
[7] Who goeth a warfare any time at his own charges? who planteth a vineyard, and eateth not of the fruit thereof? or who feedeth a flock, and eateth not of the milk of the flock? [8] Say I these things as a man? or saith not the law the same also? [9] For it is written in the law of Moses, Thou shalt not muzzle the mouth of the ox that treadeth out the corn. Doth God take care for oxen? [10] Or saith he it altogether for our sakes? For our sakes, no doubt, this is written: that he that ploweth should plow in hope; and that he that thresheth in hope should be partaker of his hope. (1 Corinthians 9:7-10).
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