Putin signs decree on switch to rouble settlement for farm exports

Russian President Vladimir Putin on Tuesday signed a decree enabling buyers of Russian farm exports to pay in roubles rather than dollars, a move Moscow casts as a tool to alleviate sanctions pressure on countries it remains "friendly" with.

Moscow has long demanded that its state agricultural bank be reconnected to the international SWIFT payments network from which it was shut off after Russia despatched troops to Ukraine last year.

Its failure to get reinstated was one of the reasons Russia cited last month for quitting the Black Sea deal allowing exports of Ukrainian grain.

Putin highlighted the need to shift trade to national currencies in a speech to a summit of African leaders in St Petersburg in July.

Deputy Prime Minister Viktoria Abramchenko last month said the decree would "simplify the access of friendly countries to the food market" and protect Russian exporters and countries "friendly" to Russia against sanctions pressure.

"Our partners are accustomed to uninterrupted receipt of high-quality Russian food, and we will continue such deliveries," she said.