18:55 GMT06 June 2020
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    BEIJING (Sputnik) - Russia and China can sign an agreement on settlements in national currencies by the end of the year, the head of the Russian state development bank Vnesheconombank, Igor Shuvalov, told reporters on Wednesday.

    "We are interested [in this agreement], the Chinese side is no less interested, and perhaps it is even more interested, as yesterday Chinese chairman [President Xi Jinping] said that this agreement should be signed as soon as possible… It would be perfect to be able to sign it by the end of the year," Shuvalov said.

    READ MORE: Russia, China to Expand Transactions in National Currencies — Putin

    Delivering a speech at the opening of the first China International Import Expo in Shanghai, Russian Prime Minister Dmitry Medvedev said he welcomed a further increase in the mutual lending in national currencies, including loans for the implementation of investment projects.

    In May, Russia's largest bank, Sberbank announced plans to develop yuan-denominated loans for Russian companies and was considering issuing yuan-denominated obligations.


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