Russia, DPRK to start settlements in ruble since June: minister

Russia and the Democratic People's Republic of Korea (DPRK) are ready for settlements in ruble in bilateral trade, a Russian minister said Thursday.

"Settlements in ruble will begin from this month. Such an opportunity will emerge between Russia and the DPRK - the first accounts have already been opened at Russian banks," Russia's Far East Development Minister Alexander Galushka said after an intergovernmental commission session.

This will help bolster trade and business cooperation in a considerable way between the two countries, he said.

Moreover, the DPRK authorities have agreed to simplify visa procedures for Russian investors and Russian companies staff working in the DPRK, according to Galushka.

"Considerable progress has been made in this crucial segment of our relations," the Russian minister said.