(MENAFN- Qatar News Agency) Seoul April 30 - North Korea and Russia have agreed to launch preparations to use the Russian ruble as the key currency in settling trade transactions.
Voice of Russia said Russia's Deputy Prime Minister and Presidential Envoy to the Far Eastern Federal District Yuri Trutnev and North Korean Vice Premier Ro Du-chol reached the agreement during a meeting in Pyongyang.
North Korea currently uses euros as the official currency in settling overseas trade deals.
The North is likely to have decided to use the ruble in trades with Russia as a way to strengthen bilateral economic cooperation according to Korea's (KBS WORLD) North Korea's Vice Foreign Trade Minister So Kil-bok first revealed the North would seek to hold negotiations to use China and Russia's official currencies in bilateral trade dealings in September 2012 at a trade fair in China.
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