Dedollarization of Russia-China trade will continue

Dedollarization of Russia-China trade will continue

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Dedollarization of Russia-China trade will continue

Dmitry Peskov also highly praised the cooperation between the regions of Russia and the provinces of China and emphasized its contribution to the development of the Russian territories bordering China

More than 90% of trade between Russia and China is carried out in rubles and yuan, and the process of de-dollarization of trade relations between the two countries will continue, said Russian presidential spokesman Dmitry Peskov.

“Over 90% of trade between Russia and China is now already carried out in yuan, with most of it in yuan and a smaller part in rubles. This process of de-dollarization will continue,” he said on the side-lines of the VIII Russia-China Expo in Harbin, China.

Peskov also highly praised the cooperation between the regions of Russia and the provinces of China and emphasized its contribution to the development of the Russian territories bordering China. He noted that in relations between the two states there are “many areas that promise mutual benefit,” which, according to him, companies from both countries understand.

May be sooner than later this initiative spreads among the BRIC Countries and their entire bilateral trade is done in their local currencies or alternatively in New BRIC currency.