70% of trade between China and Russia is done in national currencies

According to the report of the International Economy Group of Fars News Agency, quoted by Russia Elium, Russian Finance Minister Anton Silvanov emphasized that if exports from EU countries to Russia are completely banned, it will be possible to buy goods from friendly countries.

On Monday, Silvanov said at a ceremony in Moscow: EU countries want to ban exports to our country. Well, they think we can just buy stuff from them. We will buy the same goods with better quality, if necessary, from friendly countries.

Pointing out that the world is now in the first serious stage of changing the economic system, the Russian minister emphasized that the European Union currently does not have the means to impose sanctions that would harm Russia.

He also pointed out that more than 70% of trade settlements between Russia and China are done with national currencies, and said: If we look at the structure of trade exchanges between Russia and China, more than 70% of it is done with national currencies.

Pointing out that the said index was around 30% a year or two ago, Silvanov stressed that today most of the accounts are settled in rubles and Chinese yuan, which is beneficial for both Moscow and Beijing.

Russia Elium wrote: After Western countries imposed sanctions against Russia in connection with military operations in Ukraine, Moscow decided to turn eastward and strengthen its relations with Asian countries, including China, India, and Middle Eastern countries.

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