17 May 2023 17:35

Russia and Iran conducting around 80% of settlements in national currencies, considered yuan

TEHERAN. May 17 (Interfax) - Russia and Iran are already conducting 80% of mutual settlements in national currencies - the rial and ruble, Russian Deputy Prime Minister Alexander Novak said during a press conference in Teheran.

The countries also considered the Chinese yuan for mutual settlements, he said.

"We discussed these issues today in great detail, with both the Finance Ministry and the Central Bank present. Both from our side and from our Iranian colleagues. First, I can say that about 80% of our settlements are already in national currencies - rials and rubles, with the share of euros and dollars at the moment being less than 20%. In other words, the work that was done purposefully to switch to national currencies has yielded results, and we have actually reached these goals and indicators. We also considered other countries' currencies, including the yuan. And this is also one of the vectors, which in the future could become one of the units of settlement. Our banks are working in this direction," the deputy prime minister said.