In an interview with RIA Novosti, he explained that for the mechanism to work, the participating states must have common elements: if the volume of trade and investment is sufficient, there is a mutual demand for national currencies.
If not, then the mechanism will not work.
“Since there is no significant volume of trade and investment between Russia and Malaysia, I do not see the possibility of switching to such a mechanism.
The Russian business should have a great need for ringgits, and the Malaysian business for rubles.
While it is not there, the transition to national currencies is not applicable, ”said the diplomat.
Earlier, the director of the first department of the CIS countries of the Russian Foreign Ministry, Mikhail Evdokimov, said that the countries of the Eurasian Economic Union conduct more than 70% of mutual settlements in national currencies.