Barter agreements in International Trade

Abstract

The worsening of the international trade conditions in recent months has sharpened attention to the use of the practice of foreign economic transactions widely practiced during the years of the Great Depression and the post-war devastation of the economies of many countries. It refers to the non-currency exchange of goods in the world arena - a barter agreement. In modern history, its use is associated with the expansion of the practice of such agreements due to a number of restrictions imposed by the West on trade with Russia, and earlier with some other countries. The article gives an overview of the history of barter agreements, indicates the extent of their implementation, and reveals their impact on the promotion of free trade.