Russia and Turkey to Refuse Payment in Dollars?

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Turkish President Recep Erdogan has offered to abandon the US currency and use lira and ruble in bilateral trade between Russia and Turkey.

Russia and Turkey to Refuse Payment in Dollars?

Photo: AFP / Kirill Kudryavtsev

During the meeting with Russian President Vladimir Putin, Turkey’s leader Recep Tayyip Erdogan offered to abandon the US currency in bilateral trade between Russia and Turkey, and use lira and ruble in the transactions, the Gunes Turkish newspaper reported.

“This is beneficial both for Russia, and for Turkey,” the newspaper quoted his words. According to Erdogan, in this case, lira would get rid of the dollar pressure.

The Turkey’s President is concerned about the situation on the currency market because lira has seriously fallen against the dollar on the background of a significant growth of inflation in the country.

It is still unclear, whether this initiative will really be implemented or it will remain only in format of talks. The same is actual in respect of the large-scale gas project Turkish Stream.

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  • razerznak

    turkey gets kicked out of NATO and get regime change in less than 2 years ( dead erdofag) , and i hope russia fucks u over again

    • Daimler

      It’s impossible to make a Regime change in Turkey, they’re too nationalistic.

      • razerznak

        bo pa demokracijski orel prletu

  • John

    This is a augmentation of an international trend that has been going on for a while. I first became aware of inter country trading in local currencies, when it became noticeable in asia. That fact that this idea is now out in the open, trade utilizing local currencies between Russia and Turkey, is moving this reality post further along.

    I know people, media and government officials from many places, like to belittle the economic position of nations other than their own. It is is easy to do and also childishly blind. Russia and Turkey have significant economies. The biggest stick in the Western arsenal is no longer it’s military. It is the banking and currency systems. This discussion between Russia and Turkey, is merely one more sign that even this is heading to ineffectiveness. The writing has been on the wall for years.

    I wish a good weekend to all.

  • enigel

    We all know what happened when Saddam and Gaddafi decided to switch away from the all mighty “$”.Erdogan’s is taking a huge risk,but he seems to be very confident in the support of his fans.You can’t overthrow him when there isn’t public support.Those who might take CIA money to assassinate him or capture him now know they face the death penalty.Using the pkk to start a war against Turkey might be a play to force his hand and then demonize him for killing civilians,using chemical weapons,etc.

    So far NATO has bent itself backwards for Turkey because it needs it against Russia.Now with this new decision Erdogan is going in dry and NATO is going to take it from behind and even smile like it is enjoying it.Oh my,what a bunch of queer generals,military advisers and politicians are ruling over the west.I hope Trump gets elected because these people have no spine,self-respect and sense of preservation.Its pathetic.

  • drew7282

    There was few of them who tried this before and could not succeed.