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Share of national currencies in Russian foreign trade may rise to 65% in 2023 — PM

According to Mikhail Mishustin, by 2030, the share national currencies in mutual settlements with foreign countries should be 80% or more

MOSCOW, December 12. /TASS/. The share of national currencies in Russia's foreign trade may increase by a quarter this year to 65%, Russian Prime Minister Mikhail Mishustin said on Tuesday.

"We need to actively develop systems for transmitting financial information, alternative to Western analogues, and increase the share of national currencies in mutual settlements. We expect that by the end of this year it will grow by almost a quarter to 65%, and with supporting countries it will approach 70%. By 2030, the share national currencies in mutual settlements with foreign countries should be 80% or more," he said.

"It is necessary to connect the Russian payment and settlement infrastructure with key partners, to ensure the widest possible use of the Mir system, and insurance support for commercial transactions," he added.

According to Mishustin, Russia "faces serious challenges in foreign economic activity. At the same time, we need to see and open up new opportunities for the country to stimulate economic growth, increase investment and create jobs.".

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Trade & Cooperation Mikhail Mishustin

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