Kremlin aide says only 15% of Russia's trade now conducted in dollars, euros
Maxim Oreshkin credits Western sanctions with accelerating a shift away from Western currencies in Russian trade, according to Russian state news agency TASS
Only 15% of Russia's foreign trade is now conducted in dollars and euros, according to Maxim Oreshkin, Deputy Chief of Staff of the Russian Presidential Executive Office, as reported by the Russian state news agency TASS.
Oreshkin said sanctions pressure imposed on Russia by Western countries had enabled a faster transition to what he described as a "new track" in international trade settlements, TASS reported.
The official's remarks point to a continued shift by Russia toward alternative currencies for cross-border trade since Western nations imposed extensive sanctions on Moscow following its invasion of Ukraine in 2022. Russia has increasingly turned to currencies such as the Chinese yuan and other national currencies of trading partners to settle transactions, circumventing the dollar- and euro-dominated financial system.
TASS did not provide additional detail in the excerpt regarding the timeframe covered by the 15% figure, the specific currencies now used in place of dollars and euros, or further comments from Oreshkin on the matter.
The claim could not be independently verified from the available source material.
Sources
EGazette summarizes reporting from multiple sources; follow the links for the originals.
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