Putin Highlights Significant Increase in Ruble Denominated Trade Amid Western Isolation

Friday, 7 June 2024, 12:59

At the St. Petersburg International Economic Forum (SPIEF), President Putin revealed that nearly 40% of Russia's trade turnover now occurs in rubles. He underscored the importance of countries deemed 'friendly to Russia,' signaling a deliberate shift in trade dynamics amidst geopolitical tensions. This strategic move indicates Russia's resilience and readiness to adapt to the changing global economic landscape.

https://store.livarava.com/d93af7ed-24ce-11ef-a412-9d5fa15a64d8.jpg — Putin Highlights Significant Increase in Ruble Denominated Trade Amid Western Isolation

Putin Emphasizes Currency Shift

At the St. Petersburg International Economic Forum (SPIEF), President Putin disclosed a substantial uptick in the utilization of rubles for trade, reaching close to 40%.

Focus on 'Friendly' Nations

Putin's remarks underscored the significance of prioritizing relationships with countries deemed 'friendly to Russia.'

"Friendly to Russia" - denotes associations that merit special attention in trade relations.

This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.