The Central Bank of Russia has created a department for the organization of international settlements

According to the regulator, the new structural unit will specialize in the development of correspondent relations between Russian banks and counterparties from friendly countries, the transition to settlements in national currencies, as well as expanding opportunities for cross-border transactions.

Mikhail Kovrigin, who was previously the director of the department for the strategic development of the financial market, was appointed head of the department.

Earlier, Russian Foreign Minister Sergei Lavrov said that the ideas of different countries to increase the share of trade in national currencies are due to the actions of the United States.

The trade adviser of the Malaysian embassy in Russia, Hayfil Elmi Jamil, said that the country's authorities are also exploring the possibility of settlements with Russia in national currencies.

According to Russian President Vladimir Putin, payments in national currencies will gain momentum.