Russia backs use of national currencies for bilateral trade after Erdoğan's call

Russia backs use of national currencies for bilateral trade after Erdoğan's call

MOSCOW - Reuters
Russia backs use of national currencies for bilateral trade after Erdoğans call

The Kremlin said on Aug. 13 that Russia favoured bilateral trade with all countries in their national currencies, rather than the dollar, but that the idea needed detailed work before being implemented.

Turkish President Recep Tayyip Erdoğan said on Aug. 11 Turkey was preparing to conduct trade through national currencies with China, Russia and Ukraine.

Asked about Erdoğan's proposal, Kremlin spokesman Dmitry Peskov said Russia had been pushing for such an arrangement with all countries. He said the issue had been raised on more than one occasion during bilateral talks between Turkey and Russia.

rouble, Turkish Lira, Trade