Dmitry Shatunov, head of the Foreign Economic Cooperation Committee at the Moscow Chamber of Commerce and Industry, revealed talks with Algeria to develop a money transfer mechanism between the two countries and link it to the Bank of Russia system.
“There is a search for directions. Everything started from scratch. The matter is being worked on by us and by them. At the moment, Algeria is very interested in cooperation and very ready for negotiation,” Shatunov said, noting that “tangible results will not appear for a year.”
The Russian official pointed out that the main material for Russian exports to Algeria is fertilizer. However, a mechanism for interaction between the banks of the two countries has not been fully developed.
Against the background of the Russian special military operation in Ukraine, a number of local banks were separated from the “Swift” system, Visa and Mastercard stopped serving Russian bank cards abroad, and a number of international companies announced their withdrawal from the Russian market.
This article was originally published by RT.