Russia to sell debt in Chinese yuan as Washington weaponizes dollar ...News

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Russia to sell debt in Chinese yuan as Washington weaponizes dollar
source : Russia Today ( News ) () 24
Moscow and Beijing are working on a new way to cut their reliance on the greenback, as Russia plans to issue its first yuan-denominated bond, which may help the two in skirting US tariffs and sanctions. The yuan bonds are expected to be issued by the end of the year or early next year, marking the first time that Russia issues its sovereign debt in the Chinese currency, officially called renminbi. While the two trade partners have been planning the move since 2016, it has been postponed several times. Now the global political landscape has changed for both Russia and China, pushing the two nations into a closer partnership, Anton Bakht

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