Nicaraguan Foreign Minister Denis Moncada said that the two countries have been discussing trade in rubles or cordoba in an effort to boost economic cooperation and shift away from Western currencies.
"It's a topic of conversations that is universal among friends that are fighting against US hegemony. These are necessary discussions. This mess started conversations that we're sustaining among our representatives and our banking representatives," Moncada said.
Moscow and Managua need to protect their sovereignty in the financial and banking sectors as well as in commercial transactions, Nicaragua's top diplomat added, RT reported.
In September 2022, Nicaraguan Finance Minister Ivan Acosta told RIA news agency that his country intended to increase wheat imports from Russia and was open to discussing payment options.
Nicaragua also expressed interest in joining BRICS, the bloc of the largest developing economies that includes Brazil, Russia, India, China and South Africa.