Russia and China abandon the dollar

The share of the US national currency in trade settlements between Russia and China has become less than 50%.

Russia and China abandon the dollar

According to Ekonomika Segodnya, in an interview with the Japanese edition of the Nikkei Asian Review, Alexei Maslov, director of the Institute for Far Eastern Studies of the Russian Academy of Sciences, said that the Chinese and Russian authorities are moving away from using the dollar in bilateral trade, which could mean the potential creation of a new financial alliance.

“The share of the US national currency in trade settlements between Russia and China has become less than 50%, and the share of the euro and national currencies in transactions between states has reached a historic maximum and amounted to 30% and 24%, respectively,” the expert said.

The refusal of Russia and China from the dollar was largely influenced by the US policy towards these two countries.

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