Turkey will start accepting rubles

Turkey will start accepting rubles

Turkish business is putting pressure on the banking system and authorities to get a simplified system of payments in rubles for trade with Russia. Not the last role in this is played by the local tourism and hotel business, which suffered serious financial losses due to sanctions that turned off Russia's SWIFT. Experts from the banking system say that the rapid introduction of “direct” ruble-lira transactions is impossible, but there are no fundamental objections. So it is likely that at some point our tourists will be able to travel to Turkey with rubles.

The sanctions that have closed Russia from the SWIFT payment system create problems for transactions for goods in dollars and euros. Therefore, Turkish companies are calling on the authorities to allow quick transactions in rubles to maintain trade with Russia. According to the Ahval newspaper, such a statement was made at the congress of the Istanbul Chamber of Industry (ISO), where Minister of Trade Mehmet Mus was also present.

“Turkish exporters want banks to quickly convert ruble earnings into lira, although this is currently not possible. It is very important to implement a system that allows efficient use of rubles in payments in order to continue our trade with Russia,” said Erdal Bakhchivan, head of ISO. Also, according to him, it is required to develop a “road map in the field of logistics and trade financing with Russia.”

According to experts, if the Turkish business, including the tourism industry, can achieve a solution to this issue , tour operators will be able to directly transfer rubles to Turkish hotels, which will be converted into lira without an intermediate exchange rate with the dollar. Yes, and tourists in Turkey will gradually begin to accept rubles.

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