Moscow, Beijing No Longer Using American Greenback in Bilateral Trade: PM
TEHRAN (Tasnim) – Russia and China have switched to settlements in the national currencies of rubles and yuan instead of the US dollar.
Western currencies have almost been completely phased out in Russia-China trade, as nearly all payments between the countries are now carried out in rubles and yuan, Russian Prime Minister Mikhail Mishustin announced.
The statement was made during a meeting on Tuesday with his Chinese counterpart, Li Qiang. The Russian PM is on a two-day visit to Beijing for a scheduled meeting of Russian and Chinese heads of government, RT reported.
“We continue to increase the share of national currencies in mutual settlements. If in 2020 this figure was about 20%, then this year we have actually completely gotten rid of the currencies of third countries in mutual settlements,” Mishustin stated.
He also mentioned strengthening business relations, recalling that a joint business forum held in Shanghai in May attracted more than 1,500 entrepreneurs from both countries.
“We are creating suitable conditions for the work of commercial firms on the Russian and Chinese markets. We have an extensive joint agenda,” Mishustin emphasized.
In turn, Li Qiang noted that cooperation between Moscow and Beijing continues to strengthen and is becoming increasingly important against the backdrop of “global turbulence.”
