the share of settlements in national currencies between Russia and China exceeds 80% – Kommersant
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Director of the First Asian Department of the Russian Foreign Ministry Georgy Zinoviev believes that in relations between Russia and China it is possible to state the de-dollarization of economic ties. According to him, the share of settlements in national currencies now exceeds 80%, while at the beginning of 2022 it was around 25%.
“Trading in the ruble/yuan pair on the Moscow Exchange has long exceeded the volume of trading in the US dollar. In fact, today we can already state the de-dollarization of bilateral economic relations,” said Mr. Zinoviev “RIA News”.
According to the director of the first Asian department of the Russian Foreign Ministry, Russian and Chinese economic operators are moving away from the currencies of Western countries and prefer the ruble and yuan.
Deputy Prime Minister Alexander Novak previously said that the Russian Federation has almost completely switched to national currencies when paying for energy resources. According to him, already now a significant part of payments for Russian gas and oil is received not in dollars and euros, but in rubles, yuan, rupees, dirhams and lira. And this course, according to the official, will be continued.
Read more in the Kommersant FM article. “The ruble is getting used to calculations”.
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