ASHGABAT, Turkmenistan, September 22. The Government of the Russian Federation has approved a list of more than 30 friendly and neutral countries, including Turkmenistan, banks and brokers from which will be allowed to trade on the Russian foreign exchange market, as well as on the market of derivative financial instruments, Trend reports.
According to the Russian government, in addition to Turkmenistan, the list of countries whose banks can participate in currency trading includes Azerbaijan, Türkiye, Kazakhstan, Kyrgyzstan, Tajikistan, Uzbekistan.
This list was approved as part of the implementation of the new norms of the federal law "On Organized Auctions", adopted in July 2023.
These norms are aimed at improving the efficiency of the mechanism of direct conversion of national currencies of friendly and neutral countries and the formation of direct quotations to the ruble to meet the demand of the Russian economy for settlements in the national currency.
Prior to the adoption of these amendments, only Russian residents could participate in currency trading, most of whom did not have the opportunity to supply liquidity in national currencies in the required volumes.
Meanwhile, the amendments will contribute to an increase in the number of settlements of Russian participants in foreign economic activity in national currencies and a decrease in the share of US dollars and euros in such calculations.