Russia Shifts Asia-Pacific Trade Settlements to Rubles and Friendly Currencies
Quick Look
Russia's trade with Asia-Pacific countries, totaling about $500 billion and comprising over 74% of its total foreign trade, has largely transitioned to settlements in rubles and 'friendly currencies,' according to Ambassador Marat Berdyev.
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Why It Matters
Russia's Ambassador-at-Large Marat Berdyev stated that trade between Russia and Asia-Pacific countries has largely shifted to settlements in rubles and friendly currencies.
MOSCOW, July 22. /TASS/. Trade between Russia and countries in the Asia-Pacific region has been almost entirely shifted to settlements in rubles and friendly currencies, Russia's Ambassador-at-Large at the Foreign Ministry Marat Berdyev said in an interview with TASS.
"Let me cite a few figures illustrating our engagement in the Asia-Pacific. Russia's trade turnover with the region has already reached about $500 bln, accounting for more than 74% of Russia's total foreign trade," the diplomat said.
"Settlements for this trade have been almost entirely switched to rubles and friendly currencies," he added.
Open Questions
- Which specific 'friendly currencies' are being used?
- What are the specific mechanisms for these settlements?
- Which Asia-Pacific countries are most involved in this shift?
