Russia’s move to trade in local currency in agricultural exports

Russian Agriculture Minister Dmitry Patrushev said that they are holding talks on paying for agricultural exports to Turkey, Egypt and Iran in local currency. Russia is considering paying for agricultural exports to some leading countries in local currency. Speaking to RBC, Patrushev said that Russia has contracts for payments in rubles, Turkish lira, Egyptian pounds and UAE dirhams, and that these transactions are increasing every month. The minister also said that he is working with Roseximbank and the Russian Export Credit and Investment Agency on financing Russian agricultural products by foreign companies.