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Russia Discussing Dedollarization in Trade With Latin American States

CC0 / / Burning dollar
Burning dollar - Sputnik International, 1920, 05.06.2024
ST. PETERSBURG (Sputnik) - Russia is discussing dedollarization in trade with a number of Latin American countries, including Cuba, Nicaragua, Venezuela, as well as a number of BRICS states, Alexander Shchetinin, the director of the Latin America Department of the Russian Foreign Ministry, told Sputnik on Wednesday.

"Here is the process of negotiations of business and banking structures ... to find the most acceptable and convenient forms of interaction to ensure trade and economic ties between our countries. One of them is national currencies, introduction of Mir [payment] cards, introduction of direct settlements," Shchetinin said on the sidelines of the St. Petersburg International Economic Forum (SPIEF).

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The diplomat added that dedollarization forms can be different, but the development of cooperation will be prioritized.
"We have negotiations with many countries [in progress]. There are ideas for the introduction of alternative payment platforms... We have a number of other countries with which we maintain normal trade and economic ties: Cuba, Nicaragua, Venezuela," Shchetinin said, adding that there is "progress" in negotiations.
The Russian city of St. Petersburg is hosting the 27th edition of SPIEF from June 5-8.
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