Egypt and Russia eliminate dollar and euro
Russia’s Minister of Industry and Trade announced that Moscow and Cairo are moving toward trade exchanges without using the dollar or euro.
According to the English section of webangah News Agency, citing Mehr News Agency and Russia Al-Youm, the Russian Minister of Industry and Trade stated that 40% of trade exchanges between Russia and Egypt are conducted in currencies other than the dollar and euro.
The minister added that national currencies will also be used in these trade exchanges. Russia hopes that in future economic negotiations between the two countries, national currencies will be increasingly utilized in bilateral transactions to reduce dependence on the euro and dollar.
He had previously stated that signing a free trade agreement with Egypt coudl lead to growth in trade exchanges between the two countries.
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