mo4ch:>Russia phasing out US dollar in military contracts in favor of local currencies – trade minister | Mo4ch News

Moscow is dropping the greenback in major arms deals and switching to the Russian ruble and the national currencies of its partners, according to the country’s trade minister Denis Manturov.The minister added that the euro is currently the alternative to the dollar, with US currency used only when there’s no other way.“We are using various schemes, including settlements in rubles,” Manturov said in an interview with Russian daily RBC. “National currencies of our partners are used along with rubles purchased on the stock exchange.”Read more The minister stressed that all contracts on delivery of the S-400 air defense missile systems are clinched either in rubles or in local currencies of the buyer countries. So far, supply contracts on the air defense systems have been signed with India, Turkey and China.Indian authorities agreed on supplies of S-400 systems at the beginning of October. The deal worth $5.4 billion was clinched during Russian President Vladimir Putin's two-day visit …