Almost all trade between Russia and China is carried out in national currencies

The Russian President noted that China ranks first in trade turnover with Russia

Almost all trade operations between Russia and China are carried out in rubbles and yuan.

This has been confirmed and happened after Russian President Vladimir Putin had talks with Chinese President Xi Jinping.

“The deepening of commercial ties is also facilitated by the timely coordinated steps taken in Russia and China to transfer settlements between our countries to national currencies.

As a result, almost all Russian-Chinese foreign trade operations are carried out in rubbles and yuan.

In fact, a stable system of mutual trade has been built, which is reliably protected from the influence of third countries and negative trends in world markets,” the Russian leader said.

China ranks first in trade turnover with Russia. Putin recalled that in 2024, this figure broke another record and amounted to $245 billion.

“In turn, our country is also one of the leading external trade partners of the PRC. Investment cooperation is actively developing, about 90 priority Russian-Chinese projects worth about $200 billion are being implemented or are being prepared for implementation in such areas as industrial production, transport, logistics, agriculture and mining,” the Russian President specified.

In his opinion, the intergovernmental agreement on their encouragement and mutual protection, signed following the negotiations, will also contribute to further growth in the total volume of mutual investments.