Imports of Russian commodities are now settled in the Chinese currency, the outlet said Almost all of Beijing’s purchases of crude oil, gas, coal and certain metals from Moscow are now settled in Chinese yuan, Reuters reported on Thursday, citing trading executives. China has been pushing for wider international use of its currency for more than a decade but the level of global settlements in yuan had remained relatively low until recently. The country’s currency, also known as the renminbi (RMB), has been used occasionally in big Chinese commodity deals as most global trading in energy and metals is priced in
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