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Russia, Iran conduct around 80% of mutual settlements in rubles and rials, consider yuan

Alexander Novak added that the share of the euro and the dollar is less than 20%

TEHRAN, May 17. /TASS/. Russia and Iran conduct about 80% of mutual settlements in national currencies - rubles and rials, and consider the possibility of making settlements in yuan, Russia’s Deputy Prime Minister Alexander Novak told reporters.

"We discussed these issues in great detail today, and both the Ministry of Finance and the Bank of Russia were present, as were our Iranian counterparts. I believe approximately 80% of our mutual settlements are in national currencies: rials and rubles. We also considered other countries' currencies, including the yuan," he said.

Novak added that the share of the euro and the dollar is less than 20%. "The work that was purposefully carried out in order to switch to national currencies has its results," he added.

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