Putin calls for expanding national currency settlements at Russia-Africa forum
Published
During his speech at the Russia-Africa forum, Russian President Vladimir Putin called for expanding settlements in national currencies and developing independent payment mechanisms. The publication Vedomosti released photographs showing forum participants following his speech.
Settlements in national currencies mean that countries pay each other not in dollars or euros, but in their own currencies, for example in rubles or in the local currencies of African states. Such settlements can reduce dependence on foreign currencies and lower risks associated with exchange rate fluctuations. Independent payment mechanisms are transfer systems that do not depend on Western banks and payment systems.
According to Putin, the development of such mechanisms is important for economic cooperation between Russia and African countries. The theme of financial ties and trade remains one of the main topics at the forum, which shows how Russia seeks to expand its relations with African states.
Thus, Putin's speech drew the attention of participants and observers. Questions of settlements and payments will likely continue to be discussed, since they are directly linked to the development of trade between Russia and African countries.
Sources: Ведомости
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