ST. PETERSBURG, June 5. /TASS/. Russia primarily uses national currencies in trade relations with key partners, while ruble share in Russian export transactions currently stands at 65%, Russian President Vladimir Putin said at plenary session of St. Petersburg International Economic Forum (SPIEF-2026).

Russian president drew attention to poor state of Western public finances, including high sovereign debt and large budget deficits. "Such situation threatens Western currencies with new surge of inflation, and this already happened in 2021-2022, when prices in eurozone and United States rose by 14% over two years. It is obvious that under such conditions countries around world reduce assets in West and switch settlements to national currencies. They increasingly use alternative payment systems and expand role of digital financial assets, including central bank digital currencies," he added.

"Russia in trade relations with leading partners already primarily uses national currencies. Thus, ruble share in our export transactions today stands at 65%, that is, almost two-thirds," the head of state said.