Russia and Iran Poised to Use China Yuan in Trade Settlement

On Wednesday (May 17) local time, Russian Deputy Prime Minister Alexander Novak said that Russia and Iran are considering the possibility of trade settlement in China yuan.

Novak told the media that 80% of the trade between Russia and Iran has been settled in the currencies of the two countries-the Iranian rial and the Russian ruble, while the share of other currencies such as the euro and the US dollar is less than 20%. Consider using other countries’ currencies, the yuan is one of the possible future targets.”

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