The transition of Turkey and Russia for calculations in mutual trade in rubles and Turkish lira will protect Turkish currency reserves, the newspaper Milliyet writes.
As notes the publication, the decision to transition to the ruble in mutual calculations, adopted on August 5 at negotiations in Sochi between the presidents of Turkey and Russia Recep Tayyip Erdogan and Vladimir Putin, will lead to the refusal of the two countries to use the dollar and the euro in bilateral trade.
The transition to the use of the ruble is planned to start when paying for payment of Russian gas. Subsequently, the calculations in the national currencies that will be extended to other financial transactions will protect Turkey’s foreign exchange reserves, the publication notes.