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Russia reckoning on transition to national currencies in payments to Latin America

According to Sergey Ryabkov, the increase in Russian exports is particularly high over the relevant period and is about 130% for such commodities as wheat, fertilizers and petroleum products

ST. PETERSBURG, October 4. /TASS/. A more vigorous transition to payments in national currencies between Russia and Latin American countries will forge the trend towards growth of mutual trade turnover, Russian Deputy Foreign Minister Sergey Ryabkov said.

"The trade turnover between Russia and Latin America has gained a quarter of the last five years," the senior diplomat said. "To nail down this trend, a more vigorous transition to national currencies in mutual payments, alternative channels of banking cooperation, and new logistical chains will be required in current conditions," Ryabkov noted.

The increase in Russian exports is particularly high over the relevant period and is about 130% for such commodities as wheat, fertilizers and petroleum products, the high-ranking diplomat added.

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Foreign policy Latin America Sergey Ryabkov

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