Russia, Turkey agree on using rouble, lira in mutual settlements

Russian Finance Minister Anton Siluanov has signed an agreement with Turkey on using national currencies in payments and settlements between the two countries, the Russian finance ministry said on Tuesday. The agreement, signed on October 4, is aimed at gradually switching to using the rouble and the lira in mutual settlements, the ministry said.

The agreement envisages connecting Turkish banks and companies to the Russian version of SWIFT payment system, while enhancing the infrastructure in Turkey that would allow using the Russian MIR cards, designed by Moscow as alternative to MasterCard and VISA.