Russia, Egypt to conduct transactions in national currencies: Russian official

Russia and Egypt are set to conduct transactions in national currencies, with Moscow in talks on the matter inAbu Dhabi according to the Chairman of the Committee of the State Duma of the Federal Assembly of the Russian Federation on Financial Markets Anatoly Aksakov.

“We have mutual dealings with Egypt in the two national currencies, and we are in talks with the UAE (in this regard),” Aksakov said in an interview with RT on the sidelines of his participation in the St. Petersburg International Economic Forum.

Aksakov added that the percentage of the dollar in international currency trading had shrunk in two years from 70 percent to 60 percent, expecting that many countries would turn to national currencies due to unfair US sanctions policy.