GENERICO.ruEconomicsManturov advocated expanding the use of barter for the sake of dedollarization

Manturov advocated expanding the use of barter for the sake of dedollarization

Manturov advocated expanding the use of barter for the sake of de-dollarization

The barter mechanism may be one of the options moving away from paying in dollars in international trade. This opinion was expressed on Monday, October 9, by Deputy Prime Minister and Head of the Ministry of Industry and Trade of the Russian Federation Denis Manturov.

The minister, during a conversation with the deputy head of the Brazilian Ministry of Agriculture, noted that “we are complementary: you, for example, do not have fertilizers – and we have them, we give you fertilizers – you give us cocoa beans, and so on.”

In favor of such a scheme, Manturov argued that “we don’t need to use the dollar.”

Earlier, the former head of currency research at the US investment bank Morgan Stanley, Steven Yen, noted that the pace of dedollarization around the world accelerated 10 times with the start of the Russian special operation in Ukraine compared to the levels 15 years ago.

At the same time, Western media reminded that the role of the dollar as the key world reserve currency is the basis of Washington’s global leadership, therefore the de-dollarization of the world economy threatens extremely negative consequences for the United States.

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