Moscow and Algeria discuss abandoning the dollar

During his meeting with his Algerian counterpart in Moscow, the Russian President discussed efforts to encourage the transition to the use of national currencies in trade between Algiers and Moscow.

"Among other issues discussed between the two Heads of State, the question of bilateral cooperation aimed at expanding exchanges with national currencies with a view to protecting the trade of the two countries against the impacts of third countries on the markets of international exchanges”, announced the Kremlin this Thursday, June 15.

In a joint press briefing with his Algerian counterpart, Abdelmadjid Tebboune, Russian President Vladimir Putin described 2023 as a special year for relations between Russia and African states, saying: “ Our contacts with African countries are more numerous than ever, and the visit of President Tebboune speaks volumes on this subject. »

At the invitation of his Russian counterpart, the Algerian president traveled to Moscow on Tuesday June 13 for a three-day state visit. This visit is part "in the framework of the strengthening of cooperation between the two friendly countries", underlines a press release from the Algerian presidency.

At present, trade between Algeria and Russia amounts to approximately three billion dollars and military cooperation is active, Moscow being a major supplier of armaments to the largest country in Africa by its area.

Putin also recalled that the joint efforts of Russia and Algeria, among other factors, have considerably contributed to the restoration of stability in the world energy market. It should be recalled that Algeria has approved oil reserves estimated at 11.8 billion barrels, thus ranking fourteenth in the world in terms of oil deposits.

On the other hand, Abdelmadjid Tebboune also declared in front of Putin: “Algeria has remained faithful to this relationship and this friendship for 60 years. »"Today, there is a situation and perhaps international pressure, but that does not impact [the] friendship [between Algiers and Moscow]", insisted President Tebboune.

The Head of State added that the "consolidation" of Algeria's independence is being done with the "strong help" of Russia, in "our armament and the defense of our freedom in very difficult regional circumstances. ".Abdelmadjid Tebboune also acknowledged Russia's support for Algeria, which recently obtained a seat as a non-permanent member of the UN Security Council.