African countries sharply reduced the use of rubles in export payments from Russia in July 2023, while the share of “friendly currencies” (yuan and rupee) increased, the TV channel reported.RBC“
Currently, the share of “friendly currencies” has reached 78.8%, the highest figure since January 2021, the starting point of observations. At the same time, the ruble’s share in settlements decreased steadily throughout 2023, stopping at 12.7%.
The share of “unfriendly currencies” (dollar and euro) also fell to 8.5%.
In February 2023, the share of the ruble, which is the most popular means of payment in trade with Russia in Africa, was 82.4 percent.
“It is quite obvious that the vacant place of unfriendly countries that do not want to work with us is occupied by states that are ready to cooperate with us, including African countries,” said the acting head of the Russian Federal Customs Service (FCS) Ruslan Davydov about the situation.
He emphasized that trade between Russia and Africa increased from 2.3 percent to 3.7 percent, with 32.9 billion dollars in exports and 22.2 billion dollars in imports. Alexander Knobel, Director of RANEPA International Trade Research Center, explains that the positions of the ruble and “friendly currencies” and their share in settlements are volatile and change from month to month.
Previously, the Russian Federation’s income from the sale of energy resources in September to leave.
Previously SIPRI reported On reducing Russia’s defense exports by a third.