Baku, Azerbaijan, Dec. 26
Iran and Russia can start the settlements in national currencies, Denis Manturov, Russian Industry and Trade Minister, said in an interview with the "News on Saturday" programme, RIA Novosti reported.
"We do not rule out the ruble-rial settlements, taking into account that the trade volumes will grow, and, accordingly, the Iranian banks will have Russian rubles," he said. "They will be able to pay for our goods."
He said that the trade turnover between the two countries may be about $5 billion within five years.
The "Industrial and Commercial Dialogue: Russia - Iran in 2015" National Industrial Exhibition was held in Tehran December 21-23. The Russian delegation was headed by Minister of Industry and Trade Denis Manturov.
The conditions of signing the exchange agreement, which will facilitate the exchange rates and the development of economic and trade ties, were discussed.
Russia and Iran are discussing the conditions of signing the exchange agreement, which will facilitate the exchange rates and the development of economic and trade ties, Iranian media reported earlier with reference to Iranian Minister of Communications and Information Technology Mahmoud Vaezi.
President of the Central Bank of Iran Waliullah Saif said that Iran has completed the preparation for opening a joint bank account with Russia to facilitate the bilateral trade in national currencies.
The representatives of the National Banks of Russia and Iran will hold talks on the settlements between the countries in national currencies, Russian First Deputy Prime Minister Igor Shuvalov said.