Valerian Shuvavev, Russia’s ambassador to Morocco, has stated that his country is investigating barter transactions and the use of other currencies in order to maintain trade with Morocco.

In an interview with Spanish news agency EFE, he said it’s “possible to discuss barter operations as well as discover ways for mutual settlements using currencies other than the dollar and the euro, or national currencies.”

The Russian diplomat confirmed that trade between Morocco and Russia has been hit hard in recent weeks due to payment issues caused by the “exclusion of many Russian banks from the Swift financial transaction system.”

He emphasized that the sanctions imposed on Russia as a result of the country’s military “activity in Ukraine” had only impacted “fewer than ten of the 300 institutions that make up the Russian banking sector.”

Shuvavev expressed satisfaction with trade relations between his country and Morocco, claiming that Moroccan exports to Russia are “on the rise.”

He claimed a 10.8% increase in Moroccan exports to Russia in 2021 compared to 2020, stating that the value of the shipments had reached $435 million.

Food and agricultural raw materials, textiles, footwear, machinery, equipment, and automobiles, as well as minerals and metals derivatives, are the main topics of trade between the two countries.

Meanwhile, Russian exports to Morocco have grown at a “historic pace,” according to the Russian envoy.

He highlighted the fact that Russia’s exports to Morocco surged by 58.5 percent in 2021 over 2020.

Morocco imports mineral products, metals, and their derivatives from Russia, as well as food, agricultural raw materials, timber, and mechanical equipment, according to Shuvavev.

The Russian diplomat emphasized that his country is eager to collaborate with Morocco on a number of initiatives, particularly in the automotive and electric power industries, where Morocco is a regional leader in both.

Morocco and Russia have solid diplomatic relations, and the two nations engage regular political interaction and talks.

In the Kyiv-Moscow dispute, the North African country also maintains a neutral stance, emphasizing the need of political discussion in ending the ongoing conflict.

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Moscow – The 8th meeting of the Moroccan-Russian Joint Cooperation Commission for Economic, Scientific and Technical Cooperation as well as other important bilateral events were at the heart of a meeting held on Thursday between the Special Representative of the President of the Russian Federation for the Middle East and Africa and Deputy Foreign Minister Mikhail Bogdanov and the Moroccan ambassador to Moscow Lotfi Bouchaara.

According to a statement from the Russian Foreign Ministry, “during this meeting, topical issues related to the development of the traditionally friendly Russian-Moroccan relations were thoroughly examined including the organization, as soon as possible, in

Moscow of the 8th meeting of the Joint Intergovernmental Commission for Economic, Scientific and Technical Cooperation”.

The two sides also discussed the preparations of the 6th ministerial session of the Russian-Arab Cooperation Forum in Marrakech, “including the coordination of mutually acceptable dates for its holding by the end of this year, taking into account the constraints related to the Covid-19 pandemic”, the ministry points out.

Bogdanov and Bouchaara “expressed their deep astonishment at the unfounded information spread by several media outlets on an alleged cooling of relations between Moscow and Rabat, adding that the multifaceted and mutually beneficial Russian-Moroccan cooperation is developing dynamically, and highlighting the active role played in this joint work by the Russian ambassador to Morocco, Mr. Valerian Shuvaev,” the Russian Foreign ministry underlines in a press release.

The two sides exchanged views on the regional agenda and discussed the Sahara issue as well as the situation in the Maghreb region.

The Russian side “reaffirmed its unwavering position in favor of a negotiated settlement of crises and conflicts based on respect for fundamental principles and norms of international law, as well as the relevant resolutions of the UN Security Council,” according to the same source.

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