Russia-China trade turnover to be calculated in rubles and yuan — Lavrov

MOSCOW, January 18. /TASS/. Russian Foreign Minister Sergey Lavrov believes that the trade turnover between Russia and China will soon be calculated in rubles and yuan, not in dollars, he said on Wednesday.

He said that by the end of 2022, the trade turnover between the countries broke a record and reached around $200 bln. "This will probably happen soon," he said commenting on the calculations in rubles and yuan.

He added that the share of trade between Russia and China in national currencies has reached roughly half of turnover, recalling the array of sanctions was imposed against Russia with the purpose of harming the country’s economy. China understands that at some point the West may turn its attention on them, the minister said. It has already been announced that Western countries need to avoid any kind of dependence on the People’s Republic of China, he stated. "That is why we, together with the People’s Republic of China, are moving gradually towards a reduction of dependence on those Western instruments and Western unreliable partners. Half of our trade turnover is already settled in yuan and rubles. And this share is rising fast and will grow even higher," Lavrov said.

He also stated that Russia and China have close cooperation in the international arena, including the UN, as well as in combating new challenges and threats, through the SCO, BRICS, and cooperation between the Eurasian Economic Union and China "in harmonizing Eurasian integration and the Chinese Belt and Road Project."

Lavrov also mentioned the two nations' military and military-technical cooperation, as well as joint drills, saying "all of this, of course, improves our strategic partnership".

Origin: https://bit.ly/3XJhGB5