Vladimir Putin and the “De-Dollarization” of Russia-China Trade. “Mutual Payments” in Rubles and Renminbi | Global Research
Vladimir Putin and the “De-Dollarization” of Russia-China Trade. “Mutual Payments” in Rubles and Renminbi | Global Research
In terms of trade it appears that China and
Russia have established mechanisms which undermine the economic
sanctions regime directed against the two countries.
Russia’s president
Vladimir Putin reasserts the Russia-China bilateral decision to settle
“mutual payments in national currencies,” i.e. without the use of US
Dollar.
He also emphasised that
other financial steps are being implemented between the two countries to
optimize the “cooperation between [Russia and China] banks.
” Other surprises are in store as Putin stressed. “We intend to consider new financial instruments…”
In terms of trade it
appears that China and Russia have established mechanisms which
undermine the economic sanctions regime directed against the two
countries:
“we also considered ways of diversifying trade and reducing its dependence on the global economic situation…”
