95% of trade between Beijing and Moscow is done in local currencies
According to Webangah News quoted by Mehr News Agency, “Igor Morgolf”, the Russian ambassador to China, announced in an interview with “Sputnik” that currently 95% of financial and commercial exchanges between Russia and China do not involve the currencies of the Commonwealth of Independent States and It is done only with local currencies (rouble-yuan) of two countries.
According to Sputnik, in March-April this year, there was a slight decrease in bilateral trade between Russia and China. In particular, in March, for the first time since 2022, total merchandise exports from China to Russia fell compared to last year. Many attribute this to the difficulty of mutual settlements.
Trade between China and Russia increased by 26.3% and reached a record 240.11 billion dollars in 2023.
The heads of Russia and China, Vladimir Putin and Xi Jinping, have already set a goal of doubling trade from $100 billion in 2018 to $200 billion by 2024. had determined; The number obtained in November 2023.
