BAKU, June 22 General Director of the Russian International Affairs Council Ivan Timofeev, in a conversation with, stated that Russia and Azerbaijan, in light of Western sanctions against the Moscow Exchange, have begun negotiations on transition to national currencies in payments.
The United States in mid-June announced new sanctions against Russian financial infrastructure, including the Moscow Exchange, the National Clearing Center and the National Settlement Depository. Against this background, trading in dollars and euros was suspended and transferred to the over-the-counter market. 
«Naturally, after the latest US sanctions against the Moscow Exchange, problems arose with settlements. Currently, negotiations are underway between Moscow and Baku on the transition to national currencies. Now we need banks that are focused on the Russian market. By the way, the Mir system is already managing to enter foreign contours — this also cannot but rejoice. This is in the interests of Azerbaijan, as it will contribute to the flow of Russian tourists and entrepreneurs,” Timofeev said.
According to him, sanctions against the Russian Federation will worsen, even after the Ukrainian crisis is resolved.
“»This is a long-term trend and there is no reason to expect that there will be any weakening of the sanctions regime, regardless of how the situation in the Ukrainian issue develops. All known sanctions instruments are used against the Russian Federation, but the Russian economy as a whole has adapted to them “, that is, Western sanctions no longer cause the shocks that were expected from them. Yes, in 2022 there was a rather difficult restructuring of the Russian economy, in particular in the financial sector, but it was quite successful,” the agency’s interlocutor noted.
The head of the RIAC emphasized that sanctions cause damage and hinder development; first of all, Russian trade with the EU suffered, but on the part of the world majority, countries friendly to Russia, trade, on the contrary, is growing.
«»With China, Russia has 250 billion dollars, with India — more than 50 billion dollars. Previously (before the sanctions — ed.) such figures could only be dreamed of. Despite the sanctions, trade is growing with all CIS countries, including Azerbaijan… But in general, Russia needs to create a more fundamental model that could reduce the monopoly of the American dollar in the world. We need alternative payment options other than the dollar. Now such models are being considered on the basis of BRICS. These are technically very complex processes. “there will be breakthroughs in the near future, but the political situation is such that strategic diversification of global finance is simply required. Sooner or later we will come to this,” Timofeev concluded.
On June 14, Russian President Vladimir Putin, at a meeting with the leadership of the Ministry of Foreign Affairs, spoke about the collapse of the previous Euro-Atlantic security system and proposed building a new architecture that takes into account the interests of all states of the continent.