- Home
- Business
- News
- Russia's Rosatom Ready to Boost Use of National Currencies in International Transactions - CEO
Russia's Rosatom Ready To Boost Use Of National Currencies In International Transactions - CEO
Fahad Shabbir (@FahadShabbir) Published September 12, 2018 | 11:39 AM
Russian state nuclear corporation Rosatom is ready to increase the use of national currencies in financial transactions with its foreign partners, the company's CEO, Alexey Likhachev, said on Wednesday
VLADIVOSTOK (UrduPoint News / Sputnik - 12th September, 2018) Russian state nuclear corporation Rosatom is ready to increase the use of national currencies in financial transactions with its foreign partners, the company's CEO, Alexey Likhachev, said on Wednesday.
"The main parameters of the state corporation in terms of our economic performance, included in our key performance indicators list and the development program, are [measured] in rubles. That is why we will expand the use [of national currencies in transactions]," Likhachev told reporters on the sidelines of the Eastern Economic Forum (EEF), currently held in the Russian city of Vladivostok.
Rosatom had already been carrying out transactions under contracts with some foreign partners, including those from Europe and Iran, without the use of the US dollar, the corporation's CEO pointed out.
"We are currently developing a project [on the nuclear power plant construction] in Egypt. The significant part of funding there is allocated as part of the Egyptian budget," Likhachev added.
Countries that have been affected by US sanctions and trade policies have recently been calling for abandoning the use of the US Dollar in international transactions. One of them, Iran, which has been hit by the recent US withdrawal from the deal on its nuclear program and the subsequent re-imposition of US sanctions as a result of this move, has been working to create a bank for transactions with the European Union in Euros.
In another case in August, Turkish President Recep Tayyip Erdogan called for abandoning the use of the US dollar in international transactions after the United States slapped duties on Turkish imports, which resulted in a sharp drop of the Turkish lira rate.
The fourth edition of the EEF kicked off earlier in the day and will be held through Thursday.
Rossiya Segodnya International Information Agency is the general information partner of the forum.
Related Topics
Recent Stories
HEC reviews curricula for environmental sciences degree programme
ICC Asia looking forward to an action-packed Asia Cricket Week
Yuvraj Singh named ICC Men’s T20 World Cup 2024 Ambassador
Greece hands Olympic flame to 2024 Paris Games hosts
Two Kyiv hospitals evacuating over feared Russian strikes
World must act on neurotech revolution, say experts
Charles & Catherine's cancer diagnoses
Champions Alcaraz and Sabalenka through in Madrid Open
King Charles to resume some public duties during cancer treatment: palace
US defense chief announces $6 bn in security aid for Ukraine
Heavy rains cause damage to Spezand-Taftan railway track
Woman stabbed in Israel, attacker killed: police
More Stories From Business
-
Finance minister reviews progress on FBR digitalization
6 hours ago -
US stocks rebound on tech earnings, London hits new record
6 hours ago -
US approves gene therapy treatment for hemophilia
6 hours ago -
KATI president for inclusion of agri sector in tax net
6 hours ago -
Ahsan chairs 13th CPEC-JCC preparatory meeting, reviews arrangements for high-level delegation’s v ..
7 hours ago -
Police to take every step for security of business community: IGP
7 hours ago
-
WB director, Planning minister discuss reforms in development projects
7 hours ago -
IP rights crucial in achieving SDG : Jam Kamal
9 hours ago -
FBR’s data protection efforts commended by OECD assessment team
9 hours ago -
US stocks rebound on tech earnings, London hits new record
10 hours ago -
SECP-IFSB workshop highlights Pakistan's progress in Islamic Finance Development
10 hours ago -
SBP to announce monetary policy on April 29
10 hours ago