Page 20 - TURKRptNov19

In the first half of 2019, dollars accounted for the lion's share (83.1%) of Russia's payments for exported goods and services to Turkey, $8.5bn of the total Russian export value to Turkey of $10.28bn, reported RBC. Another 11.7% of Russian exports to Turkey were denominated in rubles, about $1.2bn in dollar equivalent, and finally 5% of exports were paid for using euros. Other currencies for settling international trade deals, including the Turkish lira, accounted for only 0.2% of the total.
It is much easier for the Russians to demand rubles as the settlement currency than it is for Turks to demand lira. The largest share of Russian exports to Turkey is oil and gas and metals. In the first half of 2019 just over half (58%) of
20​ TURKEY Country Report​ November 2019 ​ ​www.intellinews.com