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

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
Topic |   Currencies

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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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Karen Yeung

Karen Yeung

Karen Yeung joined the Post in 2017 after more than 15 years' experience on global newswires in Hong Kong and Shanghai. She spent eight years in Shanghai and has received awards for best feature, analysis and agenda-setting.