Russia and China agree to reduce use of dollar in trade

Russia and China agree to reduce use of dollar in trade
Xi Jinping and Vladimir Putin cook pancakes while visiting 'The Far East Street' exhibition on the sidelines of the Eastern Economic Forum in Vladivostok on Tuesday.

By AFP

Published: Tue 11 Sep 2018, 9:00 PM

Last updated: Wed 12 Sep 2018, 8:39 AM

Russian President Vladimir Putin on Tuesday said Moscow and Beijing plan to use their own national currencies more often in trade deals as Russia's relations with the West deteriorate.
"The Russian and Chinese sides confirmed their interest in using national currencies more actively in reciprocal payments," Putin told journalists during a press briefing with Chinese Leader Xi Jinping after talks at an economic forum in the far eastern Russian city of Vladivostok.
Putin said this would "increase the stability of banks' servicing of export and import operations while there are ongoing risks on global markets." 
 
 




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