Russia's interesting but disturbing trade pitch

AT the Asean meetings held this week in Jakarta, Russian Foreign Minister Sergei Lavrov made an alarming, but nonetheless interesting proposal: The Asean members should expand trade with his country, using local currencies instead of the US dollar in order to evade sanctions imposed on Russia for its war of aggression on Ukraine.

Referring to the sanctions' impact on regional trade with Russia, which has declined by some 4.4 percent since the beginning of the war, a statement from the Russian foreign ministry after Lavrov's meeting explained: "To help correct the situation, the issue of holding consultations on using national currencies in transactions is being considered."