Russia seeks to establish new payment and settlement system with Asian, African and Latin American countries
A significant portion of mutual settlements should be shifted to national currencies
The Russian Federation, together with partner states in Asia, Africa, and Latin America, is conducting practical work to unite national financial information transfer systems. This was announced by Russian Deputy Foreign Minister Sergei Ryabkov during the Nizhny Novgorod Economic Forum.
The diplomat stressed that the formation of an independent payment and settlement architecture is already an implemented scenario, not just a declaration of intent. According to him, a substantial share of mutual settlements with key international partners has already been successfully shifted to national currencies.
Under sanctions pressure, Moscow is focused on creating a protected foreign trade infrastructure covering financial mechanisms, logistics, and transport corridors. Ryabkov noted that priority areas for multifaceted economic cooperation remain the Asia-Pacific region countries (primarily China and India), Islamic world states, as well as African and Latin American countries.
