Xi Jinping urged to increase the share of national currencies in settlements between the SCO countries

During the 23rd meeting of the Council of Heads of State of the Shanghai Cooperation Organization (SCO), Chinese President Xi Jinping called for an increase in the share of national currencies in trade settlements between the countries of the association. He also urged the SCO member countries to respect each other’s key interests and counteract attempts to foment a new Cold War.

“We should independently develop a foreign policy based on the common and long-term interests of our region. We need to remain vigilant against attempts from outside to foment a new cold war and provoke a bloc confrontation in our region, categorically oppose attempts to interfere from outside and inspire color revolutions under any pretext, ”said Mr. Xi (quoted by TASS).

Russian Prime Minister Mikhail Mishustin at the end of May at a meeting with Premier of the State Council of the People’s Republic of China Li Qiang pointed outthat in March, the volume of trade between the two countries grew by a quarter year-on-year, to $52 billion. 70% of cross-border settlements between Russia and China are carried out in rubles and yuan.

23rd Summit of the Council of Heads of State of the SCO passes in New Delhi in a virtual format. Following the meeting, Iran will be admitted to the SCO. Also, the member states of the organization during the summit will formalize a memorandum of intent for Belarus to join the organization. Currently, the SCO includes eight countries – Russia, India, Kazakhstan, Kyrgyzstan, China, Pakistan, Tajikistan and Uzbekistan.

More about the summit – in the material “Kommersant” “SCO leads teleconferences”.

Milena Kostereva