Russia and Africa can find a replacement for the dollar, said the head of the business Council

© RIA Novosti / Anton to Danilovmarat photobacteria in the USA. Archival photoRussia and Africa can find a replacement for the dollar, said the head of the business Council© RIA Novosti / Anton to Danilovmarat the image Bank

Russian companies will be able to find an alternative to the dollar for settlements with African partners, said the Chairman of the Russian-Zimbabwean business Council, the main shareholder of «URALCHEM» Dmitry Mazepin.

«I think in Africa you can use other currency. We know that the VTB, for example, wants to expand its presence in Africa, and using tools such as VTB, we will be able to do the calculations in the currency that Bank VTB will be more comfortable,» he told reporters.

The Russian authorities are taking steps to ease payments in rubles under foreign trade contracts and consider possible alternatives to the dollar in case another round of sanctions will lead to freezing of dollar-denominated payments.

He acknowledged that there are some difficulties for the Russian entrepreneurs in Africa.

«The first is logistics. Not all countries have the availability of the seas and oceans. Not everywhere is the railroad,» he said. Accordingly, in order to arrange delivery there, have to build complex chains.

«Second financial guarantee. It is necessary to determine how these countries will pay, because their financial situation is not very stable,» he added.

To solve this problem, according to Mazepin, you need to use any banking arrangements, or deliveries with deferred payment. «But in this case we assume a certain risk,» he admitted.

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