(MENAFN- QNA) North Korea and Russia used the Russian ruble for the first time as the key currency in settling trade transactions this month.
The Ministry for the Development of the Russian Far East said on its Web site on Monday that payment with rubles for North Korea-Russia trade began in line with a bilateral agreement on boosting cooperation in commerce and economy as well as in science and technology, according to Korea's (KBS WORLD) website.
The two countries reached such an agreement in June in Vladivostok. The payment of rubles in bilateral trade had been delayed due to technical problems.
Prior to the bilateral agreement, North Korea used euros in settling trade deals with Russia.
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