Turkey seeks trade settlements in local currencies with Russia, China and Iran

Saturday, 3 December, 2016 - 19:30

Turkey has offered Russia to carry out trade settlements in national currencies, without the participation of the dollar.

Turkish President Recep Tayyip Erdogan said: «I proposed Putin the following: Let’s do our trade in local currencies. Whatever I buy [from you] I shall pay you in Russian ruble, and whatever you buy from me make the payment in Turkish Liras».

Moreover, he also proposed it (in the national currencies) to Iran and China. According to his words, these countries have accepted this offer.

Erdogan added: «We have given the necessary instructions to our central banks and we will try to conduct such [trade] relationships between us through this way».