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Russia-Africa Summit

Putin calls for vigorous shift to national currencies, including ruble, with Africa

It is underlined that Russia is ready to work with African countries on development of their financial infrastructure, on connecting banking institutions to the Russian financial messaging system

ST. PETERSBURG, July 27. /TASS/. It is important to more vigorously shift in financial settlements with African countries to national currencies, including the ruble, Russian President Vladimir Putin said at a plenary session of the Russia-Africa economic and humanitarian forum.

"For further expansion of the whole range of trade and economic ties it is important to more vigorously shift in financial settlements on trade transactions to national currencies, including the ruble. In this respect we are ready to work with African countries on development of their financial infrastructure, on connecting banking institutions to the financial messaging system that has been created in Russia, which permits making transborder payments independently of Western systems that currently exist and impose restrictions," he said, adding that it will help increase the stability, predictability and security of mutual trade exchanges.

The second Russia-Africa summit is taking place in the Russian city of St. Petersburg on July 27-28, with an economic and humanitarian forum being held concurrently. This time, same as in 2019 when the first such summit was held in Sochi, the motto is ‘For Peace, Security, and Development’. Roscongress Foundation is the organizer of the event. TASS is the photo hosting agency and information partner of the summit and the forum, and it also holds the second Russia-Africa media forum.

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Vladimir Putin Currency Russia-Africa Summit

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