“Two to three years is enough, not only to launch [settlements in rubles], but also to complete these mechanisms. But much will depend on how banks will cope with the task,” Kostin said in an interview with Izvestia newspaper. Kostin first put forward the idea of switching to national currencies in international settlements about a decade ago, which means a move to the ruble shouldn’t be considered a counter-sanction measure. "I did not find understanding in this matter with the previous leadership of the Central Bank [10 years ago – Ed.]. They believed that since the [US] dollar works,...
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