Local Currency Trade Between Russia and Turkey
Given the hot topic which is called trade wars, I am interested in finding an answer to 'how feasible is using local currencies in trade between countries?' In particular between Russia and Turkey where there is a trade imbalance.
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The topic is sufficiently analysed, discussed and concluded. thank you.
The sanctions stimulated government officials to consider local currencies as the tool for the trading settlement. Easy transition is not possible due to orientation of trade flows from Russia to Turkey. Possible solution to implement local currency settlement step-by-step on selected markets.