Brazil's Ambassador to the Russian Federation revealed the share of trade turnover in national currencies

The share of trade in national currencies is at around 5-10%, however, both countries are interested in increasing it, Rodrigo de Lima Baena Soares, Ambassador of the South American state to the Russian Federation, told Izvestia.

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"The share of trade in national currencies is still quite low, at around 5-10%, no more. Increasing this number depends not only on governments, but also on the companies themselves. But we are discussing this issue within BRICS. We are trying to trade with Russia in national currencies and are working to increase this percentage," the diplomat said.

Brazil is an important economic partner of Russia in the Latin American region. The trade turnover between the two countries increased by 9.3% in 2024, reaching $12.4 billion.

Read more in the exclusive Izvestia article:

Ruble exchange rate: Russia and Brazil increase the share of settlements in national currencies