Russia, Vietnam to expand ruble-dong settlements

Vietnamese dong notes.

Vietnamese dong notes.

Flickr /Marcin Wichary
The countries also plan to boost cooperation in banking.

Moscow and Hanoi plan to expand the use of the ruble and dong in trade settlements, Russian Prime Minister Dmitry Medvedev said on May 16.

“We have agreed to develop cooperation in the field of banking, and to extend where possible the scope of the use of national currencies in bilateral turnover,” Sputnik News cited Medvedev as saying after he met Vietnamese Premier Nguyen Xuan Phuc.

Vietnam signed a free trade agreement with the Eurasian Economic Union (EAEU) last year, and is major investor in Russia.

Read more: FTA bodes well for Vietnam-Eurasian Union economic ties - experts

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