Russia and China managed to do without the dollar in their trade

Russia and China have managed to do almost 90% of their trade without the dollar, transacting in their national currencies, Russian Foreign Minister Sergei Lavrov said on Monday.

“We have practically managed to do without the dollar in bilateral economic relations. Currently, more than 90% of mutual settlements are carried out in national currencies,” Lavrov said during a meeting with the heads of Russian regions at the Russian Foreign Ministry. Cases, TASS reports.

Lavrov emphasized: “Chinese-Russian trade and economic relations are actively developing, despite persistent attempts by the West to prevent us from moving forward.”

Cooperation between the regions of the two countries is “an important factor in strengthening the multilateral complex of our relations,” the minister said.

“In general, we see a steady interest in creating joint projects, mainly in the fields of economics and education,” he said.

Lavrov drew attention to the fact that after the lifting of measures imposed by Beijing against Covid-19, “there is a sharp increase in trade between Russian regions and Chinese provinces.”

“The intensity of contacts in trade, economic, humanitarian, cultural, educational and other spheres has increased significantly. Our ministry provides the necessary support for organizing visits of delegations from Russian regions to China,” he added.

In the past six months alone, fifteen Russian regional delegations, some of which were led by local governors, have visited China, which “undoubtedly increases the effectiveness of the dialogue,” the minister said.

“Cooperation agreements have been signed between 43 regions of Russia and the provinces of China,” said Sergei Lavrov.

The head of Russian diplomacy took the opportunity to announce the visit of Chinese Parliament Chairman Zhao Leji in July and the visit of Chinese President Xi Jinping in October to attend the BRICS summit in the Russian city. Kazan.

Trade exchanges between Russia and China set a new record in 2023, exceeding $240 billion (€219 billion), with Russian imports from the Asian country increasing by almost 47%.