Russia may go over to settlements in digital currencies with partners in future - Russian deputy PM
ASTANA. July 3 (Interfax) - Russia is using the barter scheme in settlements with friendly countries and may go over to digital currencies in the future, Russian Deputy Prime Minister Alexander Novak told reporters.
"The [barter] scheme is being used. Essentially, barter is used in many settlement systems, it's a clearing system. It is just transformed depending on the appearance of new mechanisms, instruments, which are developed by banks in collaboration with regulators, using modern methods, software," he said.
"I think we will be going over to digital currencies as well in the future, it's the next stage," Novak said.
During a meeting with Russian President Vladimir Putin earlier, Pakistani Prime Minister Shehbaz Sharif suggested expanding trade relations with Russia using barter. "We spoke about reducing the trade barriers, in the customs sphere there is the task to increase trade with our partners. We are making progress. The main thing is that there is a wish to ensure settlements and a system of payments," the Russian deputy prime minister said. "For Turkey, for example, according to tentative data, trade remains at last year's level," he said.
Novak also said the meeting with the Pakistani delegation had addressed supplies from Russia of liquefied natural gas, adding that orders have been issued to consider these issues. The other issues on the agenda included the construction of the North-South gas pipeline in Pakistan, increasing oil supplies, participation by Russia companies in the construction and refurbishment of power facilities, hydropower plants and thermal power plants, in Pakistan.
"The supply of seven million barrels [of oil, some one million tonnes] has already ben ensued, and we will continue this work," Novak said.
"We agreed that a Pakistani delegation will visit Moscow in the near future, and we will go to Pakistan to move to the practical realm the discussion of cooperation issues," he said.