Azerbaijan and Russia to cooperate in financial sector 

The Russian Federation and the Republic of Azerbaijan express their readiness, within the framework of their respective national legislations and monetary policies, to promote the activities of credit and banking organizations, the development of cooperation between financial institutions, the establishment of joint ventures, including financial and industrial groups, industries and other organizational and economic structures, Report informs, citing the Declaration on “Allied Interaction between the Republic of Azerbaijan and the Russian Federation”.

The document also says that the Parties will promote the use of national currencies in mutual settlements, the integration of payment systems, including the joint servicing of bank cards, as well as the development of direct correspondent relations between the banks of the two countries.