ZCZC
BCN-27
RUSSIA-CURRENCIES-SCO
Russian PM backs switching to national currencies in settlements between
SCO countries
DUSHANBE, October 13, 2018 (BSS/TASS) – Russian Prime Minister Dmitry
Medvedev has spoken in favor of switching to national currencies in
settlements between the countries of the Shanghai Cooperation Organization
(SCO).
“In particular you mentioned the need to switch to mutual settlements in
national currencies. We support this idea,” he said at a meeting of the
Council of Heads of Government of the SCO countries. But he noted that “it is
necessary to act carefully,” by reducing external markets.
“The external conditions we are working are still difficult and can hardly
be called comfortable. The system of strategic stability faces serious
challenges. To maintain their dominant positions, some states use unfair
competition, introducing protectionist measures, illegal unilateral
sanctions,” the Russian Prime Minister said.
Medvedev also noted that such attacks are mainly directed against Russia,
China as key members of the Shanghai Cooperation Organization, as well as
Iran, which is a partner of the SCO.
The Declaration on the Establishment of the Shanghai Cooperation
Organization was inked in China’s Shanghai in June 2001 by six founding
states – Russia, China, Kazakhstan, Kyrgyzstan, Tajikistan and Uzbekistan. On
June 9, 2017 India and Pakistan became full-fledged members of the SCO.
Afghanistan, Belarus, Iran and Mongolia currently enjoy observer status while
Sri Lanka, Turkey, Azerbaijan, Armenia, Cambodia and Nepal are dialogue
partners.
BSS/TASS/HR/1340