Russia supports yuan payments in trade with other countries — Putin

Russia supports the development of payments in China’s yuan in trade with Asian, African and Latin American countries, President Vladimir Putin said on Tuesday during Sino-Russian talks with the expanded circle of representatives.

“We support the use of Chinese yuan in payments between Russia and countries of Asia, Africa, and Latin America,” the head of state said. The Russian leader also expressed confidence that such “forms of payments will be developed between Russian partners and their colleagues in third countries.”

“National currencies are more and more actively used” in the bilateral trade and two thirds of the trade turnover between Russia and China are already “made in rubles and yuan,” Putin noted. “This practice should be encouraged further” and mutual presence of financial and banking institutions on Russian and Chinese markets should be expanded, he added.