Posted on

De-dollarization in overdrive: Russia & China boost settlements in national currencies to 25%


Moscow and Beijing have ramped up the share of settlements in national currencies to 25 percent this year against a modest two percent recorded seven years ago, according to the Russian Ambassador to China Andrey Denisov.

“The share of national currencies in our [trade] relations with China is steadily increasing. It has reached about a quarter through the nine months since the beginning of the year. This is quite a big progress,” the ambassador said, citing the Chinese partners.

Also on
Russia proposes $20 billion in new investment projects with China

According to Denisov, the very process of converting the …

Read More