Xi Jinping urged to increase the share of national currencies in settlements between the SCO countries
[ad_1]
The SCO countries should increase the share of national currencies in trade settlements. This was stated by Chinese President Xi Jinping at a meeting of the Council of Heads of State of the SCO.
“I consider it expedient to increase the share of settlements in national currencies within the organization,” he said (quote according to TASS).
Xi Jinping also called on the SCO countries to resist unilateral sanctions, hegemonism and power politics. He added that the member states of the organization should develop a foreign policy “based on common and long-term interests.” The Chinese President called for “remaining vigilant against attempts from outside to kindle a new cold war,” as well as resisting color revolutions and interference in the internal affairs of the countries of the region.
Against the backdrop of sanctions, Russia began to move away from settlements in dollars and increasingly use national currencies. In March 2023, Russian President Vladimir Putin said that Russia and China are “increasingly” using national currencies in mutual trade. According to him, two-thirds of the trade turnover between the countries is already “carried out in rubles and yuan.” Then Putin supported the use of yuan in settlements between the Russian Federation and the countries of Asia, Africa, Latin America.
On July 4, the SCO summit is held online for the first time under the chairmanship of India. The SCO member states are invited to the event: China, Russia, Kazakhstan, Kyrgyzstan, Pakistan, Tajikistan and Uzbekistan. Iran, Belarus and Mongolia are taking part in the summit as observers.
[ad_2]
Source link
