Russian national news agency Itar-Tass reported on April 24 Finance Minister Anton Siluanov said that 70 percent of trade between Russia and China has been converted into local currency settlements. said that a year or two ago, the proportion of local currency settlement in bilateral trade between Russia and China was about 30 percent, but now it has exceeded 70 percent. He said that the Russian ruble and RMB are used for settlement. Russia’s top priority. This is a “mutually beneficial” and “reliable” way for Russia and China to reduce the potential risks of using US dollars for settlement. According to data from the General Administration of Chinese Customs, China And Russia’s bilateral trade volume is set to break a record in 2022 to reach 1 trillion 90 billion 271 million dollars, an increase of 29.3 percent compared to 2021.(Credits- China Media Group, Beijing)
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