Payment problems between Russia, China exist, level of mutual trade allows them to be resolved by developing alternatives - Russian minister

HANGZHOU. Sept 26 (Interfax) - Payment problems between Russia and China persist, but the level of trade between the two countries allows them to be resolved, including through the development of alternative payment methods, Russian Economic Development Minister Maxim Reshetnikov told journalists on the sidelines of the 4th Global Digital Trade Expo taking place in China.

"Payment problems exist, they have existed for the last three years, they are constantly being resolved, and new technological solutions are constantly emerging. There are some issues at the current stage as well, I will not voice them, because all this is under pressure [of possible sanctions]," Reshetnikov said.

"But we have one point - the guarantee that we will solve everything. We have a large amount of bilateral trade, which is balanced - roughly speaking, plus-minus $120 billion for $120 billion [exports and imports with China]," he said.

At the same time, the two countries' leaders set the task of increasing trade turnover between Russia and China to $300 billion by 2030, and "this is a quite achievable figure," he said.

"Therefore, based on this trade, we can organize clearing, we can conduct various kinds of payments. Because there is such a large amount of bilateral exchanges in particular, therefore alternative methods, alternative systems of interaction between our countries are developing," he said.