Luxembourg could set up platform for ruble transactions given Russian political will
SOCHI. Oct 7 (Interfax) - The leadership of Luxembourg does not rule out the possibility of establishing a financial platform for ruble transactions in the country, but political will is needed on the part of Russia, according to materials for a meeting between Russian President Vladimir Putin and Luxembourg Prime Minister Xavier Bettel.
Luxembourg does not see any obstacles to creating a financial platform in the country for ruble transactions given political will on the Russian side and sufficient ruble demand and supply, the documents state.
They also state that a Moscow government delegation visited Luxembourg repeatedly earlier and was particularly interested in expert assistance from Luxembourg in creating an international financial center in Russia.
In the course of meetings with Luxembourg officials, a proposal was made to establish a specialized fund under the aegis of the Moscow government on the financial platform of Luxembourg, set up parallel or cross funds in Moscow and Luxembourg with the participation of respectively Russian and international capital, to more actively use the advantages of listings and bond issues in Luxembourg and carry out complimentary operations on the Luxembourg and Moscow exchanges, the materials state.
