"There is an agreement to pay for Russian gas in rubles. If one of the parties, be it the buyer or the seller, has their money in a currency other than dollars or euros, it will inevitably incur costs associated with the exchange rate difference. We will get rid of this difference. In fact, this is not a new issue, it has been discussed many times. For the past three or four years our president had an idea and a strategy with many countries as to 'we should trade in local currencies, we will earn more," Donmez was quoted as saying by the Turkish newspaper Yeni Safak.
"Because the buyer or the seller of goods, of course, goes to the bank. The bank transfers money in accordance with the relevant agreements of central banks. Central banks determine which exchange rate will be used and how the money will be transferred," the minister explained.