Russia and Venezuela Discussing Settlements in National Currencies

CARACAS (Sputnik) - Russia and Venezuela are discussing the expansion of cooperation in the financial sector, in particular, settlements in national currencies, Pyotr Kazakevich, director of a department at the Russian Finance Ministry, told reporters.

"There is a discussion of the mutual opening of accounts, clearing settlements and payments in national currencies," Kazakevich said, speaking about Russian-Venezuelan cooperation discussed at the intergovernmental commission's meeting.

At the commission meeting, held on Wednesday in Caracas, the Russian commercial bank Evrofinance-Mosnarbank signed a digital development agreement with the General National Directorate for Crypto Assets and Related Activities (SUNACRIP) of Venezuela.

In addition, Russia's Federal Customs Service and Venezuela's United National Service for Customs and Tax Administration signed a memorandum on the prevention, detection and suppression of dubious financial transactions by participants in foreign economic activity.