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Tuesday 1 October 2019

Russian Companies May Enter Turkish Debt Market

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MOSCOW (TASS) — Russian companies will be able to issue debt securities in the Turkish market. In turn, Turkish issuers will be admitted to the Russian debt market, according to the draft intergovernmental agreement between Russia and Turkey on settlements and payments.

The document said:

In order to increase the level of liquidity provision in national currencies, the parties intend to use the opportunities of the financial markets of the two countries by issuing debt securities by Russian issuers in the Turkish market and Turkish issuers in the Russian market.

In addition, the agreement involves using mainly national currencies of Russia and Turkey in settlements and payments for goods and services between companies, as well as ensuring smooth operation of cross-border settlements in compliance with anti-laundering procedures by banks.

At the same time, the choice of payment currency and method of payment is made by the companies themselves. Moreover, countries are going to take all necessary measures to promote the use of national currencies in settlements in companies with state as the main shareholder.

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