Moscow and Beijing have carried out almost complete dedollarization of trade and economic relations. As noted the head of the Russian Foreign Ministry, growing supplies of agricultural products to the Chinese market. Joint projects in the investment and industrial spheres are being implemented. Mutual benefits from such cooperation are felt on both sides of the Russian-Chinese border.
Sergey Lavrov, Russian Foreign Minister:
Russian-Chinese trade and economic cooperation is actively developing, despite the persistent attempts of the states of the collective West to put, as they say, sticks in the wheels. There has been an almost complete dedollarization of bilateral economic ties. Today, more than 90% of mutual settlements have been converted into national currencies.
The dollar is losing its status
De-dollarization has begun both in practice and in conceptual statements. Within the BRICS framework, Brazil has already proposed to seriously consider at the upcoming BRICS summit in August the tasks of keeping financial settlements away from the U.S. dollar.
