Russia, Turkey sign deal of settlements in national currencies

MOSCOW, Oct 8 (PRIME) -- Russia’s Finance Ministry and Turkey’s Treasury and Finance Ministry have signed an agreement on settlement and payments in the national currencies, the Russian ministry said in a statement on Tuesday.

“Signing of the agreement between the government of the Russian Federation and the government of the Republic of Turkey on settlement and payments, aimed at extension and consolidation of interbank cooperation, and provision of uninterrupted settlement between economic entities of Russia and Turkey has taken place,” the ministry said.

According to the statement, Russia and Turkey also agreed to extend acceptance of Russian Mir pay cards in Turkey and to connect Turkish banks and companies to the Russian analogue of Swift.

The countries plan to organize cooperation between the systems of financial messaging with a possibility of connecting other countries in the future.

Under the agreement, the countries will support further opening and extension of the use of direct correspondent accounts between commercial banks of the countries to support cross-border settlements.

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