MOSCOW, July 18. /TASS/. Settlements between Russia and Venezuela are increasingly being made in national currencies, while the Russian Finance Ministry is addressing expansion of financial interaction between the two countries, according to a statement published by the government following a meeting held by Deputy Prime Minister Alexander Novak and co-chair of the Russian-Venezuelan intergovernmental commission, Venezuela’s Oil Minister Pedro Rafael Tellechea.

"Settlements in national currencies between the two countries are on the rise. The strengthening of correspondent network between the two countries’ banks, accelerating connection of local financial institutions to the System for Transfer of Financial Messages of the Bank of Russia, as well as issues of ensuring acceptance of cards of the Mir payment system on Venezuelan territory, are under discussion through the finance ministry," the statement reads.

Trade turnover between the two countries gained 47% In January-May 2023 year-on-year, the Russian government noted.