The Federation Council recommended the Central Bank to develop settlements in rupees, dirhams and rials

The Federation Council recommended that the Bank of Russia carry out international settlements in Indian rupees, Iranian rials and UAE dirhams. This is stated in the final resolution of the Federation Council following the speech of the head of the Central Bank Elvira Nabiullina, which is in TASS.

“Recommend to the Central Bank of the Russian Federation to consider the development of settlements in national currencies, including Indian rupees, Iranian rials, UAE dirhams and other foreign currencies, when carrying out foreign economic activity,” the resolution says.

The resolution also recommends continuing work on the conclusion of intergovernmental agreements on clearing (non-cash settlements) in national currencies with friendly countries in order to increase the use of national currencies in servicing foreign trade contracts with “priority partners”.

Against the background of problems with settlements in foreign trade due to sanctions on July 1, the government accepted a resolution that will allow Russian companies to receive cash advances from foreign counterparties. In addition, it is allowed to credit accounts in Russian banks with cash imported into the country – in rubles and foreign currency.

More details – in the material “White House Cashed in Advances”.

Anastasia Larina