ST. PETERSBURG, July 28. /TASS/. Payments in rubles and currencies of friendly countries will be in demand in trade and economic cooperation with Africa, Russian Minister of Economic Development Maxim Reshetnikov told TASS in an interview on the sidelines of the Russia-Africa summit.

"High volatility of the economies in the majority of African countries hinders clinching deals and making settlements in their national currencies. At the same time, payments in rubles and currencies of friendly countries, the yuan in the first instance, will be in demand in trade and economic cooperation with Africa," Reshetnikov said.

African partners express readiness to look for mutually beneficial solutions to develop joint trade turnover, he said.

"We held negotiations with African partners and found out the following. The whole range of countries confirmed their desire to develop trade and economic relations with Russia in the environment of Western sanctions," the minister noted.

Work is now underway to create an independent financial infrastructure with African countries, which would include the use of the Russian ruble in mutual settlements, he added.