Chinese President Xi Jinping (left) with Russian President Vladimir Putin at the St Petersburg International Economic Forum, Russia, on June 7. Photo: EPA-EFE
Opinion
Opinion
Pain of tariffs and sanctions behind China and Russia’s push to dethrone the US dollar
- Russia is looking to launch yuan-denominated bonds, and has agreed with China to work on settling more of their bilateral trade in the yuan or the rouble
- Other trading partners suffering from US sanctions and along China’s belt and road map are also open to de-dollarisation
Chinese President Xi Jinping (left) with Russian President Vladimir Putin at the St Petersburg International Economic Forum, Russia, on June 7. Photo: EPA-EFE