Russian President Vladimir Putin, with a twinkle in his eye, stressed that most of the trade between the two great nations is now settled using yuan and ruble-based payments, leaving the once mighty dollar behind like an old, forgotten boot. He noted that Sino-Russian trade had risen by $100 billion, and they were still working to dismantle trade barriers, as if they were clearing a path through a dense forest of bureaucratic trees.
President Vladimir Putin, in his characteristic manner, has referred to the state of Sino-Russian trade and how it has, much to the chagrin of certain Western observers, abandoned foreign currencies, including the dollar, in its evolution since the start of the Russian-Ukrainian conflict. It’s almost as if the dollar decided to take a back seat and let the ruble and the yuan have their moment in the spotlight. 🌟
Talking to the official Chinese state news portal Xinhua, Putin noted that the partnership with China had evolved, with the Asian giant becoming Russia’s largest trade partner. Putin, ever the optimist, estimated that trading rose by $100 billion since 2021, with the possibility of further growth as the country continues to advance oil and gas projects to increase exchange volumes. It’s like they’re building a pipeline to the future, one barrel at a time. 🛢️
Referring to the diminished role of the U.S. dollar in this relation, Putin stated:
I would stress that while trade figures are denominated in US dollar equivalents, transactions between Russia and China are carried out in rubles and yuan, with the dollar or euro share reduced to a statistical discrepancy. It’s almost as if the dollar is playing hide and seek, but it can’t find a good enough hiding spot! 😂
Putin stressed that cooperation in areas other than oil and gas, where Russia has consolidated as the number one exporter to China, was also being advanced. “We continue our joint efforts to reduce bilateral trade barriers. Russia is one of the world’s principal markets for Chinese car exports,” he stressed. It’s like they’re building a bridge, but instead of bricks and mortar, they’re using mutual respect and economic synergy. 🏗️
The statements echo what Putin had said in May, following a high-level meeting with President Xi Jinping, when he also revealed that there was a system for conducting trade that was “reliably protected from the influence of third countries and negative trends in world markets.” It’s as if they’ve created a fortress of trade, impervious to the whims of global politics. 🏰
The trade partnership between Russia and China, titans of the BRICS bloc, has also influenced the organization, which has vowed to reduce its reliance on the U.S. dollar and progressively migrate internal settlements to local currencies. It’s like they’re writing a new chapter in the book of international finance, one page at a time. 📖
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2025-09-01 02:21