As noted, the initiative is aimed at expanding and strengthening interbank cooperation, as well as ensuring uninterrupted payments between business entities of the two countries.

The event took place on October 4, the agreement was signed by the heads of the Ministry of Finance Anton Siluanov and Berat Albayrak.

The press service informed that the deal also provides for the further expansion of the infrastructure for accepting Mir cards in Turkey and the connection of banks and companies to the Russian analogue of SWIFT.

Earlier, Russian President Vladimir Putin asked his Turkish counterpart Recep Tayyip Erdogan to “respond as soon as possible” to the draft intergovernmental agreement on settlements in national currencies.

In July, Russian Energy Minister Alexander Novak said that about a third of settlements in mutual trade between states are made in national currencies.