Speaking at the session “Chinese business in Russia: prospects for further growth” at Sberbank’s Eastern Economic Forum (EEF), Alexander Vedyakhin, First Deputy Chairman of the Board of Directors of Sberbank, said that two-thirds of Russia’s foreign trade has switched to agreements in friendly currencies. ).
“As we see from foreign trade data, the share of dollar and euro in both exports and imports has decreased significantly since the beginning of 2023, falling from 48-49 percent in January to 26-30 percent in August,” the First Deputy said. President of Sberbank Alexander Vedyakhin.
According to him, two-thirds of Russia’s foreign trade has already switched to friendly currencies, primarily the ruble and yuan. Alexander Vedyakhin stated that, judging by current trends, this share will continue to increase.
According to the decision of the Federation Council published in early July, the Central Bank of Russia (CBRF) Recommended We process international payments in Indian rupees, Iranian rials and UAE dirhams. This decision was taken after the speech of the head of the Central Bank of the Russian Federation, Elvira Nabiullina.