Russia-China transactions in dollars, euros diminished to ‘negligible level’ — Lavrov
Why This Matters
This development underscores the growing trend of de-dollarization among major economies, as Russia and China seek to reduce their reliance on the US dollar in international transactions. The shift towards national currencies reflects a broader effort to challenge the dominance of the US financial system and promote greater economic sovereignty. This move has significant implications for global trade and finance, potentially reshaping the international monetary order.
The foreign minister says that financial settlements between Russia and China have been almost entirely converted to national currencies
Curation & Context
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