MOSCOW, October 28. /TASS/. Russian President Vladimir Putin urged African countries to use national payment systems in settlements with Russia at the Russia-Africa economic and humanitarian forum.
"It is important to continue work on building up stable channels of mutual payments in national currencies. To expand the network of correspondent ties of Russian and African banks, facilitate mutual opening of their branches and make a transition to alternative mechanisms of payment information. Particularly with the use of the financial messages transmission system of the Bank of Russia and the Pan-African payment systems operating in countries of Africa and the African Union," Putin said.
This will significantly reduce transaction costs and protect payments from the politicized interference of unfriendly countries, and will also strengthen sovereignty of African nations, the Russian leader added.