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Lavrov considers barter trade system as viable option in Russia-China relations

The Russian foreign minister underscored that relations with China were at their highest level "in the entire history of their existence"

MOSCOW, September 2. /TASS/. Russian Foreign Minister Sergey Lavrov says some kind of barter system could potentially be used in trade with China.

"Almost 95% of trade with China is serviced in rubles and yuan. I do not see the need for a barter system with China at this point, although there is nothing so bad about it. If it is convenient and allows you not to depend on bank transfers, which the United States and its allies are trying to suppress in every possible way, then why not," the minister said, addressing lecturers and students of the Moscow State Institute of International Relations (MGIMO).

Lavrov underscored that relations with China were at their highest level "in the entire history of their existence." According to him, Russia and China are well aware of the threats posed by maintaining elements of globalization, which were conceived by the West and have now been weaponized.

The Russian top diplomat also said that alternative payment and settlement platforms will be created within the framework of bilateral relations, BRICS and the SCO.

"By the way, Brazilian President Luiz Inacio Lula da Silva has already proposed something along these lines outside of BRICS, where this work is underway and where a special report of central banks and the Finance Ministry will be presented for the summit in Kazan. Lula proposed doing something similar within the community of Latin American and Caribbean countries. So, this train is already rolling, and it cannot be stopped," the minister noted.

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Foreign policy Sergey Lavrov China Trade & Cooperation

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