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Novak announced growing settlements in national currencies between Russia and Turkey

The challenge is to develop settlement systems that would allow to balance volatility risks in national currencies such as the lira and the ruble, as and to create the necessary volumes of liquidity, Novak said

ANKARA, May 18. /TASS/. The volume of settlements between Russia and Turkey in national currencies is constantly growing, and the central banks of the two countries are also working on new mechanisms for further increasing settlements in rubles and Turkish lira, Russian Deputy Prime Minister Alexander Novak told reporters.

"The challenge is to develop settlement systems that would allow to balance volatility risks in national currencies such as the lira and the ruble, as and to create the necessary volumes of liquidity. Because there is currently a trade disparity. We export more, and we have a positive trade balance, but Turkey's is negative. We agreed to begin with specific volumes. By the way, settlements in both lira and rubles are already underway, and the volume is constantly increasing," Novak said.

According to him, the central banks of the two countries are also working to create mechanisms that could increase the volume of settlements in national currencies.

At the same time, Russia and Turkey have agreed to increase the number of flights, both from Russia and from Turkey, Novak added. "Agreements were reached to increase the number of flights by both Turkish airlines and our companies. This will provide the necessary number of flights for the tourist flow," he added.

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