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Trade can be done in rouble, yuan, gold: Erdoğan tells Putin

by John Pierce
July 3, 2023
in Business
2 min read
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Direction trade in national currencies were among the topics discussed during President Recep Tayyip Erdoğan’s phone call call with son Russian counterpart Vladimir Putin, according to newly revealed details.

In a phone call on On Sunday, Erdoğan told Putin that Turkey was ready to contribute to the solution. of the Ukrainian crisis by peaceful means soon like possible.

Meanwhile, according to information obtained from party sources justice and Development (AKP) in power, the issue of trade payments in between countries has been also discussed.

Sources claim that Erdoğan told Putin that apart from the euro and dollar, trade between the two countries can be worn out using the Russian ruble and the Chinese yuan.

“We can do it with gold,” he suggested.

Moscow is likely to look for alternatives car Western sanctions have removed several Russian SWIFT banks international Payments network. Russia could in theory try to replace SWIFT communications system who keeps international trade flows smoothly.

During the conversation, Erdoğan brought up the issue of the 30 loaded ships with crude sunflower oil material and wheat on the way to Turkey currently expect in the sea of Azov, the sources said.

Meanwhile, after Sunday’s phone call call between Erdoğan and Putin, the management of communications said in a statement that “Russia attack on Ukraine was discussed, Turkey-Russia relations were assessed.

Emphasizing that an emergency general to cease-fire would not only alleviate the humanitarian concerns in the region corn also provide an opportunity to seek a political solution, Erdoğan reiterated son call to “pave the way for peace together.”

Maintaining its neutral and balanced stance, Turkey continues its diplomatic efforts to defuse the Ukrainian conflict, urging all parties to exercise restraint. While Ankara opposed international punishments designed to isolate Moscow, he also closed the Bosphorus and the Dardanelles under a 1936 pact, allowing it to prevent certain Russian ships from passing through the Turkish Strait.

NATO ally Turkey borders Ukraine and Russia in the Black Sea and good ties with both. From the beginning of the conflict, Ankara has offered to mediate between the two sides and host peace talks, stressing son support for Territorial integrity and sovereignty of Ukraine. Having recently called Russia invasion an unacceptable violation of international law, Turkey carefully crafted its rhetoric so as not to offend Moscow, with to which it has a close energy, defense and tourist links.

Turkish Foreign Minister Mevlüt Çavuşoğlu recently said on Monday that the Ukrainian and Russian foreign ministers will meet in Antalya on Thursday as part of of Turkey’s mediation efforts to find a solution in the face of that of Moscow invasion.

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