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Post: Belousov said that 95 percent of trade with China is done in national currencies

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Chinese yuan and Russian ruble. Archive photo

Belousov: 95 percent of trade with China is done in rubles and yuan

BEIJING, November 20 – RIA Novosti. Deputy Prime Minister of the Russian Federation Andrei Belousov said that about 95 percent of all commercial transactions between Russia and China are carried out in rubles and yuan.

“The volume of mutual agreements between our countries in national currencies is increasing. Yuan and ruble currently account for ninety-five percent of all commercial transactions between Russia and China,” he said in his speech at the intergovernmental Russia-China investment cooperation commission. .

Russia does not officially disclose data on the share of currencies in trade turnover with other countries. At the same time, the Central Bank publishes regional statistics. Thus, in September, 37.2% of Russia’s exports to Asia were in rubles, 41.6% in friendly currencies, and 24.7% and 56.3% in imports, respectively.

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Source: Ria

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