Global Courant
According to the Chairman of the Committee of the Duma of the Federal Assembly of the Russian Federation for Financial Markets, Anatoly Aksakov, Russia and Egypt are planning to conduct transactions in national currencies. Moscow is discussing this in Abu Dhabi.
“We have reciprocal transactions with Egypt in the two national currencies, and we are in talks with the UAE (in this regard),” Aksakov said in an interview with RT on the sidelines of his participation in the International Economic Forum of St. Petersburg.
Aksakov added that the dollar’s percentage of international currency trade had shrunk from 70 percent to 60 percent in two years, expecting many countries to turn to domestic currencies because of unfair US sanctions policies.
The Russian lawmaker also pointed out that 70 percent of Russia’s transactions with Iran are conducted in the national currency of both countries.
Russia passed a law related to the digital ruble, which is expected to be used from the second half of this year, Aksakov said, adding “we can help Arab and friendly countries adopt digital national currencies.”
The St. Petersburg International Economic Forum will be held from June 14 to 17. The international event focuses on key economic issues and challenges facing Russia, emerging markets and the world at large.
The forum is an effective platform for the exchange of views and experiences between policy makers, civil servants and industry representatives from different countries of the world.
