Russian Prime Minister Dmitry Medvedev (left) and Chinese Premier Li Keqiang in Beijing’s Great Hall of the People earlier this month. Photo: EPA
Russian Prime Minister Dmitry Medvedev (left) and Chinese Premier Li Keqiang in Beijing’s Great Hall of the People earlier this month. Photo: EPA
Currencies

Could China, Russia ditch the US dollar with new payments system to avoid sanctions?

  • Cross-border pact in development for direct trade payments in the yuan and the rouble
  • Impetus for move is threat of more economic sanctions by the US

Russian Prime Minister Dmitry Medvedev (left) and Chinese Premier Li Keqiang in Beijing’s Great Hall of the People earlier this month. Photo: EPA
Russian Prime Minister Dmitry Medvedev (left) and Chinese Premier Li Keqiang in Beijing’s Great Hall of the People earlier this month. Photo: EPA
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