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Japan wants to trade with Russia using yen, not dollar

Japan wants to trade with Russia using yen, not dollar

Japan wants to trade with Russia using yen, not dollar
September 04
16:49 2015

Japan has offered Russia to use yen in the mutual financial accounts instead of the dollar to minimize the risks.

This idea was offered during the Eastern economic forum by senior managing Director of Japan Bank for international cooperation Tadashi Maeda, reports RIA Novosti.

“We offer our Russian partners to explore the possibility of using the Japanese yen as an additional currency” — said Tadashi. At the same time First Deputy Chairman of Vnesheconombank (one of the biggest state bank in Russia) Andrei Capelin reported that Russia is considering this idea. “We are already working out with our partners the tools to protect the investments from the influence of third parties (for example the USA)” — he noted.

Tadashi Maeda also noted that Japanese businesses operating in the territory of the United States, had become a “hostage” of American sanctions against Russia. He explained that many Japanese banks have a big business in the United States. If these banks will work with Russia, it may become a pretext for Washington to block their work.

The representative of Japan Bank believes that in the future a good environment for investment in Russia will be formed and the country will receive not only Japanese business investments.

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Irina Dashkina

Irina Dashkina

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