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Cuba, Russia eye mutual payments in rubles, cryptocurrencies, says ombudsman

The 38th international multi-sectoral fair FIHAV-2022 is taking place on November 14-18 in 25 pavilions of the ExpoCuba exhibition complex covering 600,000 sq. meters in the southern outskirts of the Cuban capital

HAVANA, November 15. /TASS/. Russia and Cuba are eyeing mutual settlements in rubles and cryptocurrencies in order to ease cooperation amid sanctions against both countries, Russian Presidential Commissioner for Entrepreneurs' Rights Boris Titov told TASS on Monday as he arrived in the Cuban capital for the 38th international multi-sectoral fair FIHAV-2022.

"We all, Cuba and Russia, are under sanctions. The circulation of the dollar is the main financial mechanism existing in the world for mutual payments, though today mechanisms are being developed at the level of the countries’ governments to change the situation. I know that several options are under consideration, including [payments] in rubles," he said. "Business is often more flexible, which is why it is easier for it to find legal ways. <…> The issue of mutual payments in cryptocurrencies and the possibility to pay through clearing mechanisms and private mechanisms are also being discussed," Titov added.

The 38th international multi-sectoral fair FIHAV-2022 is taking place on November 14-18 in 25 pavilions of the ExpoCuba exhibition complex covering 600,000 sq. meters in the southern outskirts of the Cuban capital. Company representatives from over 60 countries, among them Brazil, Venezuela, Spain, Italy, Canada, China, Mexico, Russia and France, are taking part in the event.

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