Russia 🇷🇺 & China 🇨🇳 are shifting to payments in national currencies - in rubles

🔹Russia 🇷🇺 & China 🇨🇳 are shifting to payments in national currencies - in rubles and in yuan - for supplied energy resources, to mutual settlements performed in particular for supplies of equipment from China.

🔹Payments for supplies of oil and petroleum products are also being proactively shifted to national currencies. Trade turnover between Russia and China in the energy sector increased by 64% in monetary terms and by 10% in physical terms.

Video courtesy Sean Foo.

Last reported on this channel:

💠 Russian 🇷🇺bank, VTB launches money transfers to China in yuan, bypassing SWIFT.

💠 Gazprom move payments for gas exports to China 🇨🇳 away from USD/Euros.

💠 "Interested SCO member states" 🇷🇺🇨🇳🇮🇷🇮🇳🇵🇰🇰🇬🇰🇿🇹🇯🇺🇿 agreed a "roadmap for the gradual increase in the share of national currencies in mutual settlements".

💠 Ruble-yuan 📈 trade up 1067% in Q2 of 2022.

💠 Russia 🇷🇺 added grain, sunflower oil and extracted meal to the list of exports that must be paid for in rubles.

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