Syrian banks eye business in Russian ruble

Syrian banks have been considering operations in the Russian currency if the European Union (EU) further restricts use of the euro by Damascus, head of the Syrian Central Bank said Thursday. "We can use Russian ruble. In the nearest future, Russian ruble will be included into a daily bulletin of the foreign exchange rates," Adib Mayaleh told the Russian Today TV channel. The Syrian Central Bank would also include the rate of Chinese RMB in the bulletin, he added. Mayaleh said Syria has been ready to open accounts in major Russian banks to serve the Syrian private and state clients. According to the official, sanctions imposed by the EU have limited the maneuvering options for the Syrian economic participants.