Russia’s trade with key BRICS partners now almost dollar-free ...News

Russia Today - Economy
Russia’s trade with key BRICS partners now almost dollar-free
source : Russia Today ( News ) () 76
95% of the country’s transactions with India and China were conducted in local currencies last year National currencies were used in 95% of Russia’s trade with China and India last year, the secretary general of the International Chamber of Commerce (ICC), Tatiana Monaghan, revealed on Monday.   According to the ICC, the share of the US dollar and euro in Russia’s export settlements has dropped dramatically, from 85.6% in January-December 2021 to 34.1% over January-May of last year.   The use of the Russian ruble in cross-border transactions surged to 39.1% over the same period and settlements in currencies of so-

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