MOSCOW (Agencies): In a groundbreaking move, Turkey and Russia have announced plans to establish a joint bank. This unprecedented decision marks a significant shift in the economic relations between the two nations.

The joint bank aims to facilitate bilateral trade, foster economic cooperation, and strengthen financial ties. It is expected to operate under the regulatory frameworks of both countries, ensuring compliance with international banking standards.

While the specifics of the bank’s operations are yet to be disclosed, it is anticipated that the joint bank will offer a range of services, including corporate and retail banking, investment banking, and wealth management.

This development comes amidst a changing global economic landscape, with countries seeking to diversify their economic partnerships. The joint bank could potentially pave the way for increased economic integration between Turkey and Russia.

Further details about the establishment, operation, and potential impact of the joint bank are expected to be released in the coming weeks.

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