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The State Department expects an increase in the use of national currencies in settlements with China

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Moscow, February 13 – Deputy Foreign Minister Andrei Rudenko said in an interview with the News Agency that Russia expects continued growth in the use of the ruble and yuan in settlements between Moscow and Beijing for energy supplies.
According to him, the share of national currencies in bilateral settlements has been increasing in recent years, in 2022 this process has accelerated significantly – in the first half of the year, almost half of trade with China was carried out in rubles and yuan, in the second half of the year, The process continued to gain popularity, including among energy companies.
“Given the important role that energy supplies play in Russian-Chinese practical relations, I have no doubts that the use of national currencies will continue to grow, which will increase the independence of bilateral settlements, which means that it will strengthen national economic security,” Rudenko said.

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The diplomat noted that Moscow proceeds from the fact that both suppliers and consumers of energy resources should have a variety of opportunities for trade, from which they can choose the most suitable and convenient, and not fall into a monopoly, for example, of the dollar.
“Rubles, yuan or other countries’ currencies that do not seek to create artificial obstacles for other countries can be successfully used to pay for energy supplies,” he added.
Rudenko also said that in 2023, Moscow and Beijing aim to take a new standard ahead of schedule, bringing trade to the $200 billion they originally planned to reach by 2024.

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