Sudan, Russia explore local currency trade settlement to cut forex reliance ...Sudan

August 17, 2024 (PORT SUDAN) – Sudan and Russia are in talks to use their local currencies for settling bilateral trade, aiming to reduce dependence on foreign currencies, Sudan’s state news agency SUNA said on Saturday. A high-level delegation from Russia’s central bank met with officials from the Central Bank of Sudan to discuss the potential move, which could bolster trade between the two countries. The talks also covered potential joint investments in sectors such as precious metals, including gold. Sudanese and Russian banks could provide financing for such ventures, SUNA reported. While official data is scarce, bilateral trade between the two nations is estimated to be between $400 mi

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