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Putin Reports Increase in Ruble Use for Export Payments
(MENAFN) Russian President Vladimir Putin stated on Wednesday that the share of the ruble in export payments has increased almost threefold, reaching 39 percent from 2021 to 2023.
At a meeting of the Russian State Council in Moscow, he noted that the share of payments in "toxic Western currencies" halved last year. Putin acknowledged that problems with payments remain a key issue for exports, as Western sanctions hinder transactions.
"We continue to work in this area, together with our foreign colleagues, we plan to use national currencies more widely, carry out settlements through clearing payment systems," he said. He also pointed out that Russia's experience has pushed other countries to consider creating alternative payment systems, leading to global discussions on establishing a so-called supranational payment infrastructure.
"I want to emphasize this -- many countries and regions of the world are doing this closely -- with the possibility of using digital currencies of central banks and digital financial assets. Such a system will operate smoothly and independently of third countries," he added.
At a meeting of the Russian State Council in Moscow, he noted that the share of payments in "toxic Western currencies" halved last year. Putin acknowledged that problems with payments remain a key issue for exports, as Western sanctions hinder transactions.
"We continue to work in this area, together with our foreign colleagues, we plan to use national currencies more widely, carry out settlements through clearing payment systems," he said. He also pointed out that Russia's experience has pushed other countries to consider creating alternative payment systems, leading to global discussions on establishing a so-called supranational payment infrastructure.
"I want to emphasize this -- many countries and regions of the world are doing this closely -- with the possibility of using digital currencies of central banks and digital financial assets. Such a system will operate smoothly and independently of third countries," he added.
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