The U.S. dollar's role as a global currency is in decline and Russia has been exploring for some time using national currencies to settle bilateral trade deals with Turkey and other countries, Russian Foreign Minister Sergei Lavrov said.

But Lavrov, speaking on a visit to the Turkish capital on Tuesday, did not make any commitments for Russia to drop the dollar in trade with Turkey, whose lira currency plummeted to a record low against the dollar this week.

"I'm confident that the grave abuse of the role of the U.S. dollar as a global reserve currency will result over time in the weakening and demise of its role," said Lavrov, who was speaking at a news conference with his Turkish counterpart.