Russia And Turkey To Refuse Payment In Dollars?

Turkish President Recep Erdogan has offered to abandon the US currency and use lira and ruble in bilateral trade between Russia and Turkey.
During the meeting with Russian President Vladimir Putin, Turkey’s leader Recep Tayyip Erdogan offered to abandon the US currency in bilateral trade between Russia and Turkey, and use lira and ruble in the transactions, the Gunes Turkish newspaper reported.

“This is beneficial both for Russia, and for Turkey,” the newspaper quoted his words. According to Erdogan, in this case, lira would get rid of the dollar pressure.

The Turkey’s President is concerned about the situation on the currency market because lira has seriously fallen against the dollar on the background of a significant growth of inflation in the country.

It is still unclear, whether this initiative will really be implemented or it will remain only in format of talks. The same is actual in respect of the large-scale gas project Turkish Stream.