Russia and Turkey are working towards trade payments in national currencies, according to the president and CEO of Turkey’s DenizBank, Hakan Ates.
“We are ready to do everything to facilitate the transition to payments in national currencies. Such a transition is possible but our central banks have to make this decision. We’re already working in this direction but haven’t reached direct agreements so far. We have to make it happen,” Ates said on Sunday.
DenizBank is almost entirely owned by Russia’s Sberbank, which has been under Western sanctions since last summer.