"There is an understanding of the increasing use of national currencies in payments between SCO members," Lavrov told reporters on the sidelines of the SCO ministerial meeting in India.
There are practices being developed by the Eurasian Development Bank, the Asian Bank for Reconstruction and Development and the new BRICS Development Bank that can be used for this purpose, the top Russian diplomat added.
Push for Dedollarisation
Payments in national currencies among the SCO member states have been recently on the organisation's agenda.
In December 2022, the SCO Interbank Consortium held a meeting in New Delhi, where the increase of national currencies in mutual settlements was discussed, among other things.
In April 2023, SCO Secretary-General Zhang Ming urged member states to increase the share of national currencies in mutual payments.