Russian Foreign Minister Sergei Lavrov at a press conference from India today, on Friday, indicated that there is a possibility of switching to a single currency of the Shanghai Cooperation Organization.
The statements were made after a meeting of the Council of Foreign Ministers of the member states of the Shanghai Cooperation Organization, which took place in the Indian state of Goa, where issues of regional security and cooperation between member states were discussed.
The Russian Foreign Minister said: “It is impossible to stop working on expanding the use of national currencies in settlements between the member states of the Shanghai Cooperation Organization, and to implement this experience, formed in the Asian Bank for Reconstruction and Development, the new BRICS Development Bank can be applied.”
He added that concerned departments, ministries of finance and central banks of the OIC countries are discussing the issue of relying on national currencies in settlements.
The Shanghai Cooperation Organization (SCO) is an international Eurasian organization in the field of politics, economics and security. It was founded on June 15, 2001 in Shanghai by the leaders of 6 Asian countries: Russia, China, Kazakhstan, Kyrgyzstan, Tajikistan and Uzbekistan.
The goals of the organization revolve around strengthening the policy of mutual trust and good neighborliness among member states, combating terrorism, strengthening security, combating crime and drug trafficking. Cooperation in the political, trade, economic, scientific, technical and cultural fields, as well as in the field of transport, education, energy, tourism and environmental protection, as well as ensuring peace, security and stability in the region.
Source: RT+TASS
