Russia, India calls for increasing share of national currencies in trade
Russia has once again expressed its interest in ditching US dollar through increasing share of national currencies in international trade.
In a meeting with the Indian Minister of External affairs Sushma Swaraj in Moscow, Yury Borisov said Russia and India are interested in increasing share of ruble and rupee in bilateral settlements.
He went on to say that in recent years, bilateral trade between Russia and China has increased in a steady growth rate and hoped the two sides would be able to reach the target level of $30 billion in the coming years.
According to the Russian official, today the share of settlements in rubles for exports is 20 percent, and for imports, about 21 percent.
Last week Tehran, Moscow and Ankara agreed on a number of economic measures like removing the US dollar from their mutual transactions as part of efforts to expand their trade relations amid Washington’s pressure.
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