Russia's Rosatom Ready To Boost Use Of National Currencies In International Transactions - CEO

(@FahadShabbir)

Russia's Rosatom Ready to Boost Use of National Currencies in International Transactions - CEO

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.

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