Can The Yuan Ever Replace The Dollar For Russia?

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The trade sanctions on Russia have forced it to ponder using another currency in international trade. Talks with China have Russia planning to use the yuan, but these talks haven’t yet translated into widespread use. The yuan’s adoption has been slow; in 2013, it accounted for 1% of Russian-Chinese trade, and by 2020, it had only increased to 6.3 percent. Russian and Chinese companies are still free to choose a different currency in business and seem more likely to deal in euros than in yuan. Read full article here

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