In their joint trade, Russia and China will switch to bartering – Reuters

Russia and China may start engaging in barter transactions — direct exchange of goods without money — this fall.

This information comes from Reuters, citing its own sources.

The first such exchanges could occur in the agricultural sector. The countries might resort to barter due to delays in bilateral payments caused by U.S. sanctions. Vladimir Putin discussed this topic with Chinese President Xi Jinping during his visit to China in May.

Another option is to use small regional Chinese banks, whose activities are more difficult for Washington to track.

In recent years, China has used barter transactions in trade with Iran and Malaysia. Barter trade was also widely used in trade between China and the USSR before its collapse.

At the end of July, media reported that Russian companies found it harder to pay for goods from China following new U.S. sanctions.