Russia's central bank has stated that it sees no better alternative than the Chinese yuan for its reserves following the impact of the Kremlin's actions in Ukraine and the subsequent loss of international assets. Both Russia and China have significantly shifted their cross-border payments to their respective national currencies, with the Russian central bank increasing its lending in Chinese yuan through currency swap operations. This move reflects a broader trend of reducing reliance on the US dollar and expanding BRICS cooperation to establish a new financial system independent of American influence.
Russia’s primary foreign currency in its forex will be… Chinese yuan! How the US weaponises dollar to make China great again. BRICS will also keep expanding to create a new system outside the reach of American empire. https://t.co/4hKa8DuiBT
Russian central bank lends more Chinese yuan under currency swap operations https://t.co/QXOrTVEGUQ https://t.co/A4q9YuFgt1
Russia’s central bank said it has no better options than the Chinese yuan for its reserves after two years of the Kremlin’s war on Ukraine and the subsequent seizure of its international assets. https://t.co/hcavTvdHKD
Russia and China have almost completely transferred their cross-border payments to national currencies https://t.co/uI0bFtnBim
1/4 Bloomberg: "Russia’s central bank said it has no better options than the Chinese yuan for its reserves after two years of the Kremlin’s war on Ukraine and the subsequent seizure of its international assets. As of March 22, Russia’s... https://t.co/GnKrSNaJLU via @markets
Russia’s central bank said it has no better options than the Chinese yuan for its reserves after two years of the Kremlin’s war on Ukraine and the subsequent seizure of its international assets https://t.co/73VtvswMPf