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Putin proposes adding ruble to int. payment system-1

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Russian President Vladimir Putin proposed Sunday adding ruble transactions to the international system of payments.
(Recasts headline, adds details in paras 2-5)

ST. PETERSBURG, June 10 (RIA Novosti) - Russian President Vladimir Putin proposed Sunday adding ruble transactions to the international system of payments.

Speaking at an international economic forum in St. Petersburg, Putin said the current financial system based on one or two currencies no longer met the strategic needs of the global economy, where currency fluctuations had a negative impact on economies.

"In answer to such a challenge [we] could introduce several reserve currencies and several financial centers," Putin said.

Putin said the ruble, which almost became a hard currency after currency restrictions had been removed in Russia, should be used more extensively in international payments.

"It is time to consider switching to ruble payments for Russian exports, when it is beneficial for both suppliers and customers," Putin said.

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