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A serious offer from Moscow
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Russia’s Trade Representative to Hungary Nikolay Livencev said to “Figyelo.hu” that if the Hungarian government decided Russia was ready to start negotiations to replace dollar based bilateral trade between the two countries with national currencies (HUF and RUB).
Livencev emphasized that in their view this accounting method would reduce risks in bilateral trade activities, and offer other benefits in the field of tourism, banking and the energy sector.
Forint and ruble based accounting methods could further expand the list of various financial instruments used in bilateral trade and would eliminate the conversion of local currencies into dollar or euro removing (dollar / euro) conversion losses – said the Russian trade representative.
The use of national currencies in bilateral trade is within the power of national governments emphasized Livencev. The Russian Federation is interested in this type of system deployment. In Moscow there is a high level support for such trade arrangement.
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