Thailand ready to settle accounts with Russia in national currencies

Thailand is interested in settlements with Russia in national currencies, the country's ambassador to Moscow, Sasivat Wongsinsawat, told Izvestia.

"Yes, this has been discussed between Thailand and Russia for several years. There are no problems or objections in principle on our side about such cooperation, so it depends on our commercial banks," the diplomat said.

Another Southeast Asian country could theoretically switch to settlements with Russia in national currencies. The Philippines is not yet specifically considering this method, but such an option is possible, the country's ambassador to Russia, Igor Bailen, told Izvestia.

"The Philippines is in contact with the Russian authorities through the central banks. <...> We are still monitoring the situation because there are more extensive economies compared to the Philippines, such as Thailand, Vietnam, Malaysia and Indonesia. <...> And here we are learning from our neighbors: if something like this works and at the same time there will be no secondary sanctions, we are certainly in favor," the ambassador said.

Russia is negotiating trade using national currencies with Indonesia, and the issue is being worked out with Cambodia. At the beginning of 2024, it was said about the imminent transition to similar mutual settlements with Myanmar.

Read more in the exclusive material of Izvestia:

Settlement pass: Thailand is ready to trade with Russia in national currencies