Wednesday, 21, April, 2021

The Chairman of the Roseximbank Azer Talibov offered Uzbekistan to develop settlements in national currencies. “We all have different trading modes, we understand what trends are taking place and who dominates in this segment. If we want to build a serious platform for the development of our bilateral and multilateral relations, it is important for us to develop a system of settlements in national currencies,” Talibov said.

“This tool, in the long term, will give us freedom of choice in relation to suppliers, manufacturers and consumers. You can see how volatile the situation is in international markets and world trade. In fact, it is important here to create the most comfortable conditions for yourself,” he noted.

Last year, the bank reported that it had opened the first correspondent account in Uzbek soums for Russian banks. At the same time, several LORO accounts in Russian rubles were opened for Uzbek banks. "Roseximbank" conducts operations of Russian companies in the Chinese yuan, Kazakhstani tenge, Indian rupee, Kyrgyz som, Hungarian forint and is constantly expanding this list.

Russia is trying to circumvent US sanctions by switching to settlements in national currencies, stated the Minister of Industry and Trade of the Russian Federation Denis Manturov.

Latest in Finances