RUSSIA CAVES ON YUAN PUSH AS US SANCTIONS CRUSH THE BRICS DE-DOLLARIZATION FANTASY
Russia has largely stopped its effort to replace the U.S. dollar with the Chinese yuan for trade. A report from Bloomberg indicates the yuan's share of Russian export payments has dropped. This share fell to 22 percent this year. The decline is a result of the yuan's share being cut in half. This shift comes as U.S. sanctions impact the goals of BRICS nations to move away from the dollar.
RUSSIA CAVES ON YUAN PUSH AS US SANCTIONS CRUSH THE BRICS DE-DOLLARIZATION FANTASY Russia has effectively abandoned its years-long effort to dump the U.S. dollar and settle trade in China’s yuan, according to a new Bloomberg report. The yuan’s share of Russian export payments has been cut in half this year, falling to just 22 […] The post RUSSIA CAVES ON YUAN PUSH AS US SANCTIONS CRUSH THE BRICS DE-DOLLARIZATION FANTASY first appeared on The Zambian Observer .