Not another dollar! Russia & Turkey agree on settlements in national currencies

Reuters Murad Sezer

Moscow and Ankara inked an agreement on using Russian rubles and Turkish lira in mutual payments and settlements, the Russian Finance Ministry announced on Tuesday.

The deal is aimed at gradually switching to using national currencies in mutual trade, the ministry said. Trade turnover between the two countries grew by 16 percent last year, reaching $25.5 billion.

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