Russia received the price of its grain from Turkey in rubles and is exploring the same with Egypt

Russian Deputy Prime Minister Viktoria Abramchenko said Turkey paid for Russian grain deliveries in rubles, adding that Russia is currently exploring the possibility of making similar deliveries to Egypt.

Speaking about commercial deliveries, Abramchenko told Novosti that Russia has not yet switched to settlements in national currencies systematically, but “this is an established trend.” She added that the Bank of Russia is currently negotiating with the central banks of other countries to establish mechanisms for such mutual settlements, and this applies not only to food supplies, but also supplies in other directions.

And she continued: “As a last example, I can cite a deal with Turkey on food supplies, when Turkey paid in rubles. The first attempt was successful. Our biggest partner in this area is Egypt, and we are starting to discuss such a transfer with Egypt as well.”

Abramchenko confirmed that cereals and fat and oil products are currently in the greatest demand, continuing: “We are not currently selling fat and oil products for rubles, but we are discussing this issue, since payments in rubles are one of the priorities.”

And she stressed that not only Gazprom Bank, but also Rosselkhozbank (Rosselkhozbank) would later deal with such transactions. And I checked: “Even within the framework of contacts with the UN regarding the grain deal and the decision of the package, which is being implemented in favor of Russia and which provides for the need to return Rosselkhozbank to the international settlement system.”

Abramchenko said in December last year that last autumn Russia supplied grain to Turkey in exchange for rubles.

Russian Agriculture Minister Dmitry Patrushev said in May last year that his ministry would discuss with the countries of the Middle East and North Africa the possibility of switching to ruble settlements in grain tenders, as well as revising the settlement mechanism in order to exclude European banks from it.

Source: News

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