Egypt Considers Possibility of Payments With Russia in National Currencies, Trade Minister Says

© Sputnik . Alexandr Demyanchuk
 / Go to the mediabank

CAIRO (Sputnik) – The public and private sectors in Egypt are discussing the possibility of payments with Russia in national currencies, Egyptian Minister of Industry and Trade Ahmed Samir told Sputnik on Monday.

“Discussions are now underway in Egypt between stakeholders in the public and private sectors, as well as with the Central Bank of Egypt to explore ways to commercially settle between the two countries in national currencies and work to find a mechanism to realize this,” Samir said.

Earlier, Egyptian Financial Minister Mohamed Maait told Sputnik, that Egypt would want to increase the role of the national currencies of Russia and Egypt in trade operations.

“Trading in the Chinese yuan and Russian ruble will be of great importance for Egypt. We have commercial and economic agreements with these countries, and we are currently discussing all these issues with specialized institutions,” the minister said.

The diversification of currencies used in trade will result in significant economic profit, the politician added.

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