MOSCOW, February 6. /TASS/. Moscow and Addis Ababa are starting trade in national currencies, Ambassador of Ethiopia in Moscow Genet Teshome Jirru said in an interview with TASS.

"This process between Russia and Ethiopia is still in its early stages, so it is too early to provide precise statistics. But both sides are clearly interested in trading in national currencies and this cooperation will develop over time," the ambassador noted.

Commenting on the level of trade cooperation between the two countries amid sanctions and Russia's transition to trade in national currency with a number of partners, the ambassador stressed that "even if there were no sanctions, trade in local currency is always very profitable," since "it allows to avoid transaction costs and losses due to exchange rate fluctuations."

He also pointed out that the need to buy foreign currency "creates uncertainty and room for speculation, which ultimately increases the cost of products". "Thus, trade in national currencies makes economic relations more predictable," the diplomat concluded.