Russia and Cambodia are considering a possibility to switch to national currencies in mutual settlements, Russian Ambassador to Cambodia Anatoly Borovik said in an interview with Sputnik.

"In terms of cooperation in the financial sector, our partners are aware of the relevant Russian initiatives, they are being developed," Borovik said when asked about a possibility of switching to national currencies in mutual settlements.

The diplomat noted that in 2012, the value of Russia-Cambodia trade reached $239 mln; however, in 2022, trade between the two nations slowed down due to the pandemic and "illegal restrictions" slapped by the West. He added that Russian companies are seeking reliable partners to enter the Cambodian market, since the country has demonstrated understanding and an interest in boosting bilateral cooperation.