Just found this article interesting, as though these countries have not been bartering with humans trafficking victims and drugs already.
https://www.ozy.com/politics-and-power/to-avoid-trumps-sanctions-countries-turn-to-stone-age-bartering/91467
Just found this article interesting, as though these countries have not been bartering with humans trafficking victims and drugs already.
https://www.ozy.com/politics-and-power/to-avoid-trumps-sanctions-countries-turn-to-stone-age-bartering/91467
Yes, the direct exchange of goods and services without money, a trade model predating human mastery over fire and the discovery of gravity, is experiencing a comeback — in many cases as a direct reaction to sanctions imposed by the U.S. against Iran, Russia, Venezuela and those who deal with these regimes.
At a meeting in New York on the margins of the U.N. General Assembly in September, leaders of China, Russia and the European Union publicly proposed a banking mechanism that would allow the exchange of European goods for Iranian crude oil through Russian territory. That same month, Turkey met with leaders in Tehran to discuss how it could maintain trade relations with Iran, even discussing the creation of a separate Islamic banking system.
In 2017, Indonesia agreed to buy weapons from Russia in exchange for commodities such as palm oil and coffee. India is exploring a similar barter system with Venezuela: rice and drugs in exchange for oil from the South American nation. And the world’s largest democracy, a traditional partner of the U.S. much like the EU, is devising a strategy with Tehran whereby New Delhi will park cash in its currency, the rupee, in five Indian bank accounts in exchange for Iranian oil. Iran can’t actually take the money — but can use it to buy Indian goods that it can then ship home.