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Russia and Bolivia dump U.S. dollar and agree on trade increases
From Russia Briefing
Dezan Shira & Associates
Shenzhen, China
Thursday, April 20, 2023
The Russian foreign minister, Sergey Lavrov, is on a Latin American tour and has been meeting with the Brazilian president and foreign ministers.
When he caught up with his Bolivian counterpart, Rogelio Mayta, in the Venezuelan capital, Caracas, they introduced a new trade transaction system to drop the U.S. dollar and euro and to carry out international commercial transactions using the Russian ruble and the Bolivian boliviano instead.
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Mikhail Ledenyov, the Russian ambassador to Bolivia, said: "Financial operations can now be carried out using national currencies. Direct correspondent accounts in rubles and bolivianos were opened between Gazprombank and Union, the largest Bolivian state-owned bank."
This modality of international trade is possible thanks to agreements monetary authorities reached after holding several virtual meetings last year.
Lendenyov said this facilitates the work of Russian companies in the Andean market.
The diplomat also mentioned that Bolivian companies are interested in exporting tropical fruit, soybeans, wine, alcoholic beverages, coffee, lithium, tin, gold, and silver to Russia. ...
... For the remainder of the report:
https://www.russia-briefing.com/news/russia-bolivia-dump-us-dollar-and-agree-trade-increases.html/
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