Ah, the sweet, sweet scent of de-dollarization in the air – Russia and China have officially said “buh-bye” to the U.S. dollar, opting for rubles and yuan in their trade. The world will never be the same again, folks.
Almost All Russian-Chinese Foreign Trade Now in Rubles and Yuan – No Dollar, No Problem
On May 8, amidst the picturesque backdrop of Moscow, Russian President Vladimir Putin had a heart-to-heart with his Chinese counterpart, Xi Jinping. The result? A press conference with Putin boasting about their latest economic triumph: Russia and China have practically kicked the dollar to the curb, and trade is now flowing smoothly in rubles and yuan, as if the global financial system had always been this way. Imagine the audacity!
Putin, ever the diplomat, waxed poetic about this monumental shift, adding: “The deepening of commercial ties is facilitated by our well-timed, highly coordinated efforts to switch our transactions to national currencies.” Well, isn’t that just a masterclass in international relations? He even went so far as to say:
“Almost all Russian-Chinese foreign trade operations are carried out in rubles and yuan.”
And, just to rub it in, Putin added that this monumental shift in trade is as safe as houses, saying: “A stable system of mutual trade has been built, which is reliably protected from the influence of third countries and negative trends in world markets.” Oh sure, Putin, sure – no worries here! Let’s just leave the dollar behind, like an old sweater we no longer need. 🙄
Russia’s partnership with China continues to grow stronger, with China firmly holding the title of Russia’s largest trading partner in 2024. Their bilateral trade has soared to a record $245 billion. Clearly, that’s nothing to sneeze at, even if it’s all happening without the comfort of dollars. Who needs ’em?
And the plot thickens – there are about 90 priority Russian-Chinese projects worth around $200 billion in the works, spanning industrial production, transport, logistics, agriculture, and mining. Pretty ambitious, right? But don’t worry, the rubles and yuan will surely save the day. Who needs Western currencies when you’ve got your own, right? 😏
But here’s the kicker: Russia and China aren’t alone in this movement. Other countries within the BRICS bloc are starting to follow suit, hopping on the de-dollarization bandwagon. Why? Well, because nothing says “freedom” like shrugging off the chains of Western financial influence and waving goodbye to sanctions. It’s almost like a geopolitical rebellion, and it’s catching on. Watch out, dollar – your monopoly may just be over. 🌍💸
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2025-05-10 07:03