Beijing is actively considering the transition of mutual settlements with Russia for energy resources in rubles and yuan in the near future. This was reported by a TASS source in the Chinese Foreign Ministry.
“In bilateral settlements, market participants can choose the currency according to their own needs. The use of their own national currency in the regular trade and economic interaction may allow to avoid currency risks and reduce the costs of currency exchange,” said the Foreign Ministry of China.
The list of partner countries ready to make foreign trade payments in rubles continues to grow. Nigeria has also announced its readiness to trade with Russia in national currencies. The statement was made by the Ambassador of the African country in Moscow Abdullahi Shehu in an interview with RIA Novosti.
For rubles and yuan. Photo: CNBC
Oil accounts for about 85 percent of the country’s exports. The mutual understanding on strategic issues brings our countries closer to each other and creates additional opportunities for cooperation in the energy sector. Especially considering the fact that Nigeria is a member of the OPEC oil cartel.
Earlier, representatives of Ansar Allah movement in Yemen (Hussites) stated their wish to buy agricultural products, in particular wheat, for rubles. Previously, Vladimir Putin’s proposal was supported by Turkey and Syria.
The International Monetary Fund has already admitted today that in the current situation the world supremacy of the US currency may be shaken.
On the topic: the ruble vs. the petrodollar: the global battle of the decade
