A Bloomberg article notes that the yuan share of Russian exports has dropped but that bilateral trade is surging
A recent Bloomberg article with the eye-catching headline ‘Russia’s Push to Replace Dollar With China’s Yuan Collapses’ purports to demonstrate that Russia has abandoned attempts to replace the dollar with the yuan due to US sanctions.
It points out that the share of the yuan in payments for Russian exports has been cut in half this year to 22%, from a peak in mid-2024, when the US expanded secondary sanctions. The article goes on to demonstrate at length the problems Russian businesses are having with yuan payments, boasting that…
Read the full article at RT-ENGLISH.COM
