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Russia Mulls to Use of National Currencies More in Ops With Iran - Novak

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MOSCOW (Sputnik) - Russia is considering the possibility of increasing the share of national currencies in financial transactions with Iran, Energy Minister Alexander Novak said on the sidelines of the Russian Energy Week forum on Thursday.

"Since we do not support sanctions, we believe that we should continue to cooperate with Iran. We are considering mechanisms to increase mutual payments in national currencies, bypassing the US dollar," Novak said in an interview with Russia's Business-FM radio.

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Novak specified that the share of national currencies in trade transactions between Moscow and Tehran currently fluctuates in the 25-30 percent range.

READ MORE: Putin: Russia's Energy Sector Opens New Opportunities for Serious Investment

The Russian Energy Week forum started earlier this week and is expected to last through Saturday. Rossiya Segodnya International Information Agency is the official media partner of the event.

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