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Farewell to the dollar in trade between Russia and Turkey

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rocky
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Farewell to the dollar in trade between Russia and Turkey

Post by rocky on Sun 14 Aug 2016, 9:50 am

[size=30]Farewell to the dollar in trade between Russia and Turkey[/size]
14/08/2016 04:27 | Number of Views: 163
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Direction Press / Agencies
Ankara is seeking to adopt a new system of trade with Russia, it aims to use the currencies of the two countries (the Turkish lira and the Russian ruble) in trade accounts between them, will enhance Currencies positions against the dollar.
Relocation of "Vesti" Economic Russian newspaper "Gunes" Turkish President Recep Tayyip Erdogan proposed to the Russian President, Vladimir Putin, to move away from a dollar coin in trade between Russia and Turkey, and the adoption of either the Turkish lira and the Russian ruble in trade accounts between the two countries.
It will return according to the opinion of the Turkish President beneficial for both Russia and Turkey, as it will contribute to trade in national currencies in the promotion of the Turkish lira and the Russian ruble sites, and thus diminish pressure on the currencies of the two countries.
Not surprisingly, this proposal, as the Turkish lira exchange rate falls within the priorities of the Turkish leadership, especially after the decline in the lira exchange rate against the recent dollar, high inflation rate of 8% on an annual basis, so that the Turkish leadership is seeking to ease the pressure on the Turkish lira.
The trade exchange between Russia and Turkey, the size of about 30 billion dollars a year, but the trade volume this year, fell after Moscow imposed restrictions on Ankara entered into force earlier this year.
At a press conference after the Putin-Erdogan summit in St. Petersburg on August 9 / August, the Turkish president said his country is seeking to increase trade with Russia to $ 100 billion annually.
During the meeting, the two presidents agreed on the resumption of cooperation between the two countries in all fields, especially the revival of strategic projects as a gas, "Turkish stream" and building "Okoiyo" Alkahronowih transfer station.
This is the first meeting between the two leaders since the outbreak of the crisis between Moscow and Ankara on the back of the Turkish Air Force shoot down a Russian warplane in Syria.
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    Current date/time is Fri 09 Dec 2016, 11:25 am