The newspaper “Mallit” spoke about the desire of Russia and Turkey to switch to national currencies in trade relations, explaining the stages of the transition, especially after the meeting of the presidents of Russia and Turkey last week.
The Turkish newspaper Milliet reported that the Russian currency will be used mainly in natural gas payments between Russia and Turkey, and then national currencies are expected to be fully used in trade between them.
And the newspaper said: “After the meeting of Russian Presidents Vladimir Putin and Turkish President Recep Tayyip Erdogan (last week in Sochi), it is planned that the Russian ruble will be used mainly in payments for Russian natural gas for Turkey, followed by the introduction of the Turkish lira and the ruble into trade transactions between the two countries instead of the dollar and the euro.
The Turkish newspaper added that “the transition to national currencies in trade relations between Russia and Turkey will protect Turkey’s foreign exchange reserves.”
And at the end of last week, Russian Deputy Prime Minister Alexander Novak said after a meeting between the two leaders that Putin and Erdogan had agreed to sell part of Russian gas to Turkey for rubles.
“They discussed gas supplies to Turkey, which is supplied in fairly large volumes: 26 billion cubic meters per year. During the talks, the presidents of the two countries agreed that part of the gas supplies would be paid in rubles,” he said.
“We are talking about a gradual transition to national currencies, and at the first stage, part of the supplies will be paid in Russian rubles,” he added.
Source: RIA Novosti