Report: Minsk says Russia rejected proposal of trade in rubles

MINSK, Mar 5 (PRIME) -- Belarusian President Alexander Lukashenko suggested that Minsk and Moscow completely switch trade settlements between the two countries into Russian rubles, but Moscow rejected the offer, Belarusian news agency BelTA reported on Tuesday quoting Lukashenko.

“Almost 80% of our trade with Russia is going on in the Russian rubles as of today. I’ve recently suggested to the president (of Russia) that we should increase trade in Russian rubles to 100% before undertaking something bigger (like introduction of a common currency). We are not afraid of that, but no one wants to do it,” Lukashenko said as quoted by BelTA.

This means that Russia is rejecting trade in the Russian rubles with its closest partner as it counts on foreign currency – the U.S. dollars or the euros. “Then why should we even discuss the idea of a common ruble?” he said, adding that Moscow is yet to make a proper suggestion of a common currency to Minsk.

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