Moscow: Russian Finance Minister Anton Siluanov confirmed that Russia and China have nearly completed their transition to settlements in national currencies, with 99.1% of transactions now conducted in yuan and rubles.
According to Yemen News Agency, Siluanov made the announcement during the 11th Russia-China Financial Dialogue in Beijing. He stated that the current objective is to consolidate this achievement and further enhance cooperation between the two nations.
Siluanov noted that the economic and financial systems of Russia and China have demonstrated resilience. Both economies experienced growth in 2023-2024 and are now moving towards balanced and sustainable economic development.
The Russian Finance Minister also criticized Western sanctions, describing them as ineffective in maintaining global dominance. He emphasized that the collaboration between Russia and China serves as a stabilizing factor during the global system transformation and the establishment of a new financial structure.