The Moscow Stock Exchange will start trading in the national currencies of Kyrgyzstan and Tajikistan – som and somoni, Lenta reports.

In a statement published on its website, the stock exchange in the Russian capital said that trading in the new currencies “expands the possibilities of direct conversion” and “is an important element of the infrastructure for the development of operations in national currencies between Russia and Kyrgyzstan.” and Tajikistan”.

Trading in these two currencies will be launched on October 31.

The announcement comes amid broader moves by Moscow to switch to transactions in national currencies, alternatives to the dollar and euro, following historic Western sanctions imposed after the invasion of Ukraine in late February.

In August, for example, Russia’s central bank announced it was considering buying yuan, rupiah and Turkish lira, national currencies of countries Moscow considers “friendly” to it, as an alternative to the dollar and euro.

Russia officially defaulted in early June after the US Treasury banned it from buying dollars.

Putin accuses of using the dollar as a weapon

Russian President Vladimir Putin personally addressed the situation on Wednesday, accusing the United States of “discrediting international finance by using the dollar as a weapon.”

Speaking at the Valnai debating club, an annual event that brings together Russia’s political and business elite, the Kremlin leader also said a switch to the national currency was “inevitable.”

In late March, Putin demanded that all Russian energy exports to “unfriendly countries” be paid for in rubles. Later, Gazprom stopped supplying gas to countries that did not comply with the requirements.

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