Russia supports Kazakhstan’s initiative to switch to using national currencies in bilateral trade between SCO countries

Russia supports the proposals on the need for the countries participating in the Shanghai Cooperation Organization (SCO) to switch to settlements in national currencies. This was announced by Prime Minister Dmitry Medvedev at the meeting of the SCO Council of Heads of Government in Tashkent.

Such an initiative, he said, was made by Kazakhstan.

“It is very important to highlight the issues of financial infrastructure. I want to draw attention to the proposal of the Kazakh side to develop specific steps to switch to mutual settlements in national currencies within the SCO. This is a good initiative, it needs to be worked out,” Medvedev said.

The Russian prime minister expects that specific recommendations of experts on this issue will allow the SCO countries to “use modern and relevant means of settlement in the current trading conditions.”