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Growing trade with Africa requires connecting banks to Russia’s Financial Messaging System

ST. PETERSBURG, July 27. /TASS/. Growing trade between Russia and Africa will necessitate the use of national currencies, rubles, and the connection of African banks to the Financial Messaging System of the Bank of Russia (SPFS), Russian Minister of Economic Development Maxim Reshetnikov said in an interview with Rossiya 24 TV channel.

"Increased trade turnover will necessitate additional efforts in other areas. The transition of settlements to national currencies is on the agenda, as is connecting African banks to the financial messaging system, switching to settlements in rubles, because Africa is still used to working in dollars, euros, and so on," he said.

Reshetnikov added that negotiations on a free trade zone with a number of African countries are now in progress. Negotiations with Egypt, as well as accords with Morocco and Algeria, are already underway, he noted.

The second Russia-Africa Summit is taking place at St. Petersburg’s Expoforum on July 27-28, in parallel with economic and humanitarian forums. Similar to the first such summit in 2019, the event is being held under the rubric "For Peace, Security and Development." The event is being organized by the Roscongress Foundation. TASS is the event’s official information partner and photo-hosting agency.

Finance minister says companies’ profit in 2024 to total $527 bln

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Trump's new presidency will be fundamentally different from his first — expert in the US

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ATACMS missiles unlikely to keep Kiev from losing conflict — American expert

Daniel Davis also noted that "continuing to ignore reality" would only increase "the ultimate cost of losing" the conflict for Ukraine

At least 66 people killed in Gaza Strip by an Israeli strike — Al Jazeera

It was also reported that over 100 people were wounded

Canada neglects its sovereignty by approving transfer of land mines to Kiev — diplomat

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Ukraine’s former top commander sought to blow up Turkish Stream pipeline, report says

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Russia to use revenues from frozen assets of Western investors — Finance Minister

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Russia’s revised nuclear doctrine makes defeat over its army impossible — SVR chief

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All restrictions that Western countries impose affect themselves in the first place, Russian Finance Minister Anton Siluanov added

US is now at war with Russia, Ritter says

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Putin ready for talks on Ukraine, including with Trump — Kremlin

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Training Ukrainian troops makes France direct participant in combat — top Russian diplomat

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Moscow-Washington hotline not in use now — Kremlin spokesman

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Russia to address NATO’s engagement in strikes deep inside country — SVR

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Iran claims to have disabled Israel’s Iron Dome air defense in past strikes

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Netanyahu arrives in Gaza, offers $5 mln for each released hostage

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Russian Navy’s conventional sub makes business call at Malaysian port

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Rubicon center drones hit Ukrainian equipment in Russia's Kursk Region

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Biden's decision to use ATACMS on Russia threatens to kill Americans — Tucker Carlson

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The Belarusian leader noted that they want to go to Warsaw

Ukraine creates 'sabotage manual' showing former citizens how to get Russia — lawmaker

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Railroad development to strengthen ties with foreign partners — Russian PM

Mikhail Mishustin added that "it is necessary to modernize border crossings in coming years, including introduction of practice of electronic paperwork"

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US Senate refuses to block arms supplies to Israel

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Indonesia accepts invitation to become partner state in BRICS, ambassador announces

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US senator labels Biden’s approval for ATACMS strikes on Russia as unconstitutional

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Russian forces dislodge Ukrainian troops from half of positions in Kurakhovo in DPR

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Ukraine, not Russia, posing a threat to the Baltic region — Kremlin

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Press review: Biden OKs long-range missile use as backlash to Scholz’s Putin call grows

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Pentagon confirms that US authorized use of antipersonnel landmines in Ukraine

Ukrainian side had committed to not using the mines in areas populated by civilians

Washington refrains from naming those responsible for Baltic Sea cable rupture — DoS

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Moscow’s response to strikes with Western arms on Russian soil to be felt — diplomat

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UK police say no video evidence of Russians’ involvement in Salisbury case

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Russia monitors situation in Kursk Region after reports of ATACMS missiles — Kremlin

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