Sudan and Russia use local currencies in commercial activities

A delegation from the Central Bank of Russia has visited Sudan to discuss with the Governor of the Central Bank of the country, Borai al-Siddiq, about the use of the currencies of the two countries in commercial transactions to reduce dependence on foreign currencies, especially the US dollar.

According to the country's official news agency, SUNA, the Russian delegation has also discussed joint investment opportunities in key sectors such as precious metals, including gold. Sudanese and Russian banks are expected to be able to finance these projects.

The opening of bank branches in the two countries will help trade exchanges and increase exports and imports are also being considered.

At the 27th International Economic Forum in Saint Petersburg in Russia, the BRICS member states once again announced their readiness to implement in practice the step of creating a single digital currency.

The BRICS countries, led by Russia, are trying to strengthen their financial governance and protect themselves from the negative effects of Western sanctions, especially the United States, by reducing dependence on the US dollar and adopting alternative payment methods.