Russia's G20 delegation to urge for payments in natl currencies

MOSCOW, Feb 28 (PRIME) -- The Russian delegation to a G20 foreign ministers' meeting will urge for transition to the national currencies, alignment of settlement mechanisms and establishment of independent insurance mechanisms, the Russian ministry said on Tuesday.

"We will explain Russia's activities in detail … for diversification of foreign trade relations and logistic corridors, will urge our G20 colleagues with a constructive approach to switch to the national currencies, align payment mechanisms and establish independent insurance mechanisms and transportation routes," the ministry said.

The delegation will also speak in favor of serious democratization of the global institutes of economic management, extension of the role of the BRICS and developing states in the framework of the Bretton Woods structures and the World Trade Organization, and support an application of the African Union to receive a permanent membership in the G20.

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