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Russia ready to use national currency in settlements under international contract

May 24, 2014, 0:54 UTC+3 ST. PETERSBURG
“We are open for all,” Deputy Foreign Minister Vasily Nebenzya said
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ST. PETERSBURG, May 24 /ITAR-TASS/. Russia is ready to use its national currency in settlements under international contracts but is not going to give up settlements in dollars or euros, Russian Deputy Foreign Minister Vasily Nebenzya told Itar-Tass on Friday on the sidelines of the St. Petersburg International Economic Forum.

“We have already said that we will use national currencies where it is appropriate, but no one is going to drop traditional currency units, such dollars or euros,” he said when asked about possible use of the Russian rouble in conditions of Western sanctions.

“We are open for all,” he stressed. “We have no prejudices, neither do we want to punish anybody, unlike those who want to punish us but would rather punish themselves instead.

The interest demonstrated by foreign businesses to the St. Petersburg International Economic Forum has proved that international business does not support the Western policy of sanctions against Russia, Nebenzya added.

“Generally speaking, business is unwilling to yield to persuasion of their government,” he said. “Although formal sanctions have not been announced, many governments, especially overseas ones, exert pressure on their businesses, recommending them not to attend events organized by Russia, especially the St. Petersburg Forum.”

“Some might have yielded, but still, the number of participants, their level proved that business has demonstrated that it is against sanctions,” he noted.

Although CEOs from big Western corporation did not take part, their absence was compensated “by the number of second and third executives from these corporations.

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