The share of the greenback in trade between the countries has dropped to a historic low, according to a Foreign Ministry official © Getty Images / Oleg Elkov
The de-dollarization of Russia-China trade is practically complete, according to Georgy Zinoviev, the director of the Russian Foreign Ministry’s First Asian Department, as cited by RIA Novosti.
The official said the share of the US dollar in mutual settlements between the neighboring nations has substantially shrunk over the past two years.
“The share of national currencies in Russian-Chinese payments is growing at an extremely rapid pace,” Zinoviev told the news agency. “At the beginning of 2022 it was hovering around 25%, now it is exceeding 80%.”
He added that the volume of trading in the ruble-yuan pair on the Moscow Exchange (MOEX) outpaced volumes in the dollar-ruble pair long ago.
According to Zinoviev, Russian and Chinese businesses are “rapidly moving away from the ‘toxic’ Western currencies, opting for the ruble and yuan as more reliable and safe way of payment.”
The diplomat noted that Moscow and Beijing have developed vital tools to make it possible to “facilitate all necessary transactions as much as possible,” despite international political and economic instability that significantly affects financial institutions and their ability to efficiently operate.
The changes reflect Russia’s move away from transactions in the currencies of ‘unfriendly countries’ against the backdrop of sanctions. Earlier this year, Finance Minister Anton Siluanov said the country no longer trusts the dollar, calling it “a completely unreliable instrument.”
Zinoviev’s comments come ahead of the 8th Eastern Economic Forum, which kicks off on September 10 in Vladivostok, Russia. Most of the discussions at the annual event will focus on trade, business, and investment.
It is my sincere desire to provide readers of this site with the best unbiased information available, and a forum where it can be discussed openly, as our Founders intended. But it is not easy nor inexpensive to do so, especially when those who wish to prevent us from making the truth known, attack us without mercy on all fronts on a daily basis. So each time you visit the site, I would ask that you consider the value that you receive and have received from The Burning Platform and the community of which you are a vital part. I can't do it all alone, and I need your help and support to keep it alive. Please consider contributing an amount commensurate to the value that you receive from this site and community, or even by becoming a sustaining supporter through periodic contributions. [Burning Platform LLC - PO Box 1520 Kulpsville, PA 19443] or Paypal
-----------------------------------------------------
To donate via Stripe, click here.
-----------------------------------------------------
Use promo code ILMF2, and save up to 66% on all MyPillow purchases. (The Burning Platform benefits when you use this promo code.)
Who needs a pesky reserve currency when your cloaked in the warm juices of democrat party niggerlove and faggot/pedophile worship ?
Zap, you crack me up sometimes, lol. Good one.
Consider it a token of my extreme.
Me too!
Oh, SNAP!
Going with Machinist on this one!
World is ‘laughing at’ the US – Alaska governor
The US government’s decision to cancel oil and gas drilling licenses and forbid further drilling will “hobble” the country’s economy and makes no sense except to advance the green agenda, Alaska Governor Mike Dunleavy has declared.
President Joe Biden’s administration on Wednesday canceled seven ten-year oil and gas drilling licenses granted to the Alaska Industrial Development and Export Authority (AIDEA) by former President Donald Trump. Biden’s Department of the Interior followed up this decision by issuing a proposal to forbid future leases on more than 40% of the National Petroleum Reserve in Alaska.
https://www.azerbaycan24.com/en/world-is-laughing-at-the-us-alaska-governor/
YOU GAWD DAMN RIGHT THE SANE PEOPLE OF EARTH ARE LAUGHING AT THE PARASITE MAGGOT VERMIN running this country into the ground !
If it is not a law passed by Congress the next President can cancel it. EO’s are a poor way to rule.
But they are a rock soild way to bring on what is coming.
On the upside we will have a country full of a lot less cheap junk from China/always a bright side to things.
Yep………nothing quite like cheap plastic shit in our homes and buttholes.
Buttholes?
Beavis and Butthead routine redux.
Research…………….Uranus.
All truth for democrats come from buttholes.
after a while, until then things will be scarce and costly. We have sacrificed to many factories and jobs to the altar of unfair free trade. Although some industries have came back to the US, a lot still have to build factories, buy machinery, hire and train people to make those products.
anyone have link to the actual interview or RIA article?
https://www.adn.com/politics/2022/01/25/video-full-text-of-gov-mike-dunleavys-state-of-the-state-speech/
(Parenthetically, DUH…)
Sanctions no longer matter.
As far as the De-Dollarized counterfeited Non- American – NON Constitutional CAPTURED Federal Government – Real International Blood line Bankster Creature From Jekyll Island FIAT NOTE – The only thing that is going to matter soon is keeping the main thing…the main thing…and the main thing (for a time such as this) will be your individual Spiritual Prep…and your individual Joseph years of Plenty Prep.
“Sanctions no longer matter.”
Because…that fiat power will soon have run its intended course…and most Americans will lose EVERYTHING as TLPTB (L=Luciferian) have planned…or so the demented demonic minds behind the invisible claw have been deceived to believe and worship.
Russia dumps dollar after the West sanctions Russia so they can’t get access to dollars. China is dumping dollar because no one wants Yuan. But two authoritarian cesspools are going to take over the world. Mmmkkk.
Think of the spoon not as a poopscooper…………….be the spoon TLA……………be the poop !