Russian, Chinese finance ministries to sign memorandum on national currency settlements

MOSCOW, July 6. /TASS/. Russia’s and China’s finance ministries and central banks plan to sign a financial cooperation memorandum to stimulate settlements in national currencies, Russian Finance Minister Anton Siluanov said on Monday. ‘We have actually reached a final stage of preparing this document. I believe we’ll be able to sign it in the coming days," Siluanov said at the 6th dialog of the finance ministers from Russia and China. "The memorandum deals with such issues as making settlements in national currencies, stimulating access to internal markets and so on," Siluanov said. Russia and China are already "switching from words to deeds" in their interaction on such issues as access to financial markets, the use of national currencies in mutual settlements and these areas of cooperation "are expanding," the Russian finance minister said. "The establishment of multilateral development banks, such as the Asian Infrastructure Investment Bank, will be a step towards further increasing the amount of funds for financing our infrastructure projects," Siluanov said. Read more