Armenian exporters could trade with Russia in dram

YEREVAN, MARCH 23, ARMENPRESS. Exporters in Armenia see risks in exporting products to Russia with rubles, and currently authorities of Armenia and Russia are considering the possibility of trading in Armenian drams.

Minister of Economy Vahan Kerobyan told lawmakers in parliament that many problems have already been solved, while works are underway for solving other issues faced by exporters.

“Many exporters have temporary disruption of monetary flows. There are difficulties regarding payments under contracts which were in US dollars, while the exporters are facing difficulties regarding significant devaluation of debitor debts in case of contracts which were in rubles,” he said.

Now the government is attempting to “give oxygen” to exporters so that they are able to solve the temporary disruption of cash flows.