Russia Signs $13.1 Billion Deals in Local Currencies
Russia has signed trade deals worth 1 trillion rubles (equivalent to $13.1 billion) in local currencies. This is the second time in a row that Russia signed trade agreements worth $13.1 billion. The deals were inked at the St. Petersburg International Economic Forum (SPIEF), announced Governor Alexander Beglov. The national brand space ‘Buy Russian!’ was the centerpiece at the SPIEF forum in St. Petersburg. Also Read: CIS Settles 99% of Payments in Local Currencies, Ignore USD The deals extended to over 40 investment agreements with over 67 trade policies touching exactly 1.0288 trillion rubles. The agreements are mostly focused on science and technology projects and the funds will be deployed through 2030. The SPIEF event was held this week under the theme “Shared Values: The Foundation of Growth in a Multipolar World.” Russia aims to achieve a multipolar financial world where local currencies will be used for all transactions. A deal was also inked with China at the SPIEF...