https://en.sputniknews.africa/20240917/unprecedented-russia-pays-44-of-its-imports-in-rubles-1068306450.html
Unprecedented: Russia Pays 44% of Its Imports in Rubles
Unprecedented: Russia Pays 44% of Its Imports in Rubles
Sputnik Africa
Washington's sanctions policy, according to Russian President Vladimir Putin, is causing a significant shift away from the US dollar as more nations seek to... 17.09.2024, Sputnik Africa
2024-09-17T10:42+0200
2024-09-17T10:42+0200
2024-09-17T12:55+0200
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36% of Russian imports are settled in the currencies of friendly countries, while only 20% use "toxic" currencies, according to the data from the Central Bank of Russia analyzed by Sputnik.This shift to the ruble is driven by a significant increase in its use in transactions with: On the export side, the ruble is used in:For more than two years, Russia has been strategically shifting its trade toward the ruble and the currencies of its friendly countries. This effort has effectively dethroned the dollar and the euro, which were the dominant currencies used in transactions before February 2022.
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international, russia, asia, oceania, russian central bank , ruble, sputnik, export, import, trade, local currency, currency, us dollar, de-dollarization, euro
Unprecedented: Russia Pays 44% of Its Imports in Rubles
10:42 17.09.2024 (Updated: 12:55 17.09.2024) Ekaterina Shilova
Writer / Editor
Washington's sanctions policy, according to Russian President Vladimir Putin, is causing a significant shift away from the US dollar as more nations seek to de-dollarize their economies.
36% of Russian imports are settled in the
currencies of friendly countries, while only 20% use "toxic" currencies, according to the data from the Central Bank of Russia analyzed by
Sputnik.
This shift to the ruble is driven by a significant increase in its use in transactions with:
Africa, where it has reached 76% (up from 54% in June);
On the export side, the ruble is used in:
99% of transactions with the Caribbean;
81% of payments with Oceania;
80% of operations with
Africa;
66% of transactions with Europe.
For more than two years, Russia has been strategically shifting its
trade toward the ruble and the currencies of its friendly countries. This effort has effectively dethroned the dollar and the euro, which were the dominant currencies used in transactions before February 2022.
