The decision to switch mostly to rubles and yuan was “timely” and has led to a strong boost in trade, the president says The vast majority of transactions between Russia and China are now carried out in national currencies, bypassing the US dollar, President Vladimir Putin has said. Speaking at a meeting with his Chinese counterpart, Xi Jinping, in Beijing on Thursday, Putin heaped praise on the deep level of cooperation between the two powers, especially in trade and economics. Relations between Moscow and Beijing are based on “the principles of mutual respect, good neighborliness, and mutual benefit,” Putin said
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