Russia is poised to support yuan payments in international trade

Vladimir Putin, speaking alongside his Chinese counterparts Xi Jinping, stated that Russia is prepared to boost the use of the yuan in its international trade.

According to the Russian President, the yuan & the ruble (Currency) make up 2/3 of the present trade between Beijing & Moscow

In spite of Western sanctions against Moscow. China’s commerce with Russia reached a historic high in 2022, expanding by almost a 3rd.

The yuan’s proportion in export agreements also increased, from 0.5 percent to 16 percent.

It is important to promote this approach and increase the joint existence of banking and financial institutions on our nations’ marketplaces