Publish dateThursday 25 May 2023 - 15:29
Story Code : 270674
Using domestic currency instead of dollars and euros in China and Russia transactions
China and Russia announced that they conduct most of their transactions in rubles and Yuan.
Afghan Voice Agency (AVA): Moscow has repeatedly stated that it considers the dollar and euro unreliable, because their use in the country's cross-border transactions is not considered safe due to Western sanctions over the conflict in Ukraine.
 
According to Iran Press, Russian Prime Minister Mikhail Mishustin said during a conversation with Chinese Premier Li Qiang in Beijing on Wednesday that nearly three quarters of transactions between Moscow and Beijing are currently done in rubles or yuan.
 
Mishustin's statement comes at a time when Russian President Vladimir Putin emphasized the creation of a decentralized international financial system.
 
The Russian president said on Wednesday that the global economy would benefit from the formation of a decentralized international financial system.
 
He continued that Moscow seeks to reduce the share of unfriendly countries' currencies in its finances and plans for more active cooperation with its partners around the world and the Eurasian Economic Union, especially for the full use of national currencies.
 
Putin noted that many developing economies in the world, including China, India and Latin American countries, have also turned to using national currencies in their foreign trade affairs.
 
However, the; Also, the governors of the central bank of Sri Lanka, Myanmar, Bhutan and the vice presidents of the central bank of Maldives on Wednesday emphasized the expansion of commercial exchanges using national currencies in a live video call with the meeting of the Asian Exchange Union.
 
It is necessary to mention; In addition to the presence of 9 main members of the Asian Exchange Union, Russia, Belarus, Afghanistan and Nair Islamic Development Bank are present in the 51st Asian Exchange Union, which started its work on Wednesday at the Central Bank of the Islamic Republic of Iran in Tehran.
 
In this summit, in addition to important decisions in the field of dollarization and reducing dependence on the dollar in exchanges between members, the members' interbank messenger will be unveiled in order to eliminate the need for SWIFT.
 
https://avapress.com/vdcfexd0jw6deva.r7iw.html
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