https://sputnikglobe.com/20251125/russiachina-trade-now-almost-fully-in-national-currencies---rosneft-ceo-1123173003.html
Russia–China Trade Now Almost Fully in National Currencies - Rosneft CEO
Russia–China Trade Now Almost Fully in National Currencies - Rosneft CEO
Sputnik International
Payments in Russia–China trade have been almost completely switched to national currencies in recent years, Rosneft CEO Igor Sechin said at the opening of the VII Russian-Chinese Energy Business Forum in Beijing.
2025-11-25T08:31+0000
2025-11-25T08:31+0000
2025-11-26T07:41+0000
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Igor Sechin noted that the share of the dollar and euro has fallen to the level of statistical error. According to him, the yuan’s share in China’s foreign trade has risen from 2% to 52% since 2010, while the dollar’s share has nearly halved. He added that the dollar’s role as a payment instrument is weakening because it is used as a sanctions weapon. This, he said, creates conditions for alternative tools such as gold, whose price typically rises before global crises. He also noted that the dollar is losing strength as a global reserve currency. According to Sechin, China, now providing 35% of global industrial output, has effectively become the world’s only industrial superpower.
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russia–china trade, national currencies, vii russian-chinese energy business forum in beijing
russia–china trade, national currencies, vii russian-chinese energy business forum in beijing
Russia–China Trade Now Almost Fully in National Currencies - Rosneft CEO
08:31 GMT 25.11.2025 (Updated: 07:41 GMT 26.11.2025) Payments in Russia–China trade have almost completely switched to national currencies in recent years, Rosneft CEO Igor Sechin said at the opening of the 7th Russia–China Energy Business Forum in Beijing.
Igor Sechin noted that the share of the dollar and euro has fallen to the level of statistical error. According to him, the
yuan’s share in China’s foreign trade has risen from 2% to 52% since 2010, while the dollar’s share has nearly halved.
He added that the dollar’s role as a payment instrument is weakening because it is used as a sanctions weapon. This, he said, creates conditions for alternative tools such as gold, whose price typically rises before global crises. He also noted that the dollar is losing strength as a global reserve currency.
According to Sechin, China, now providing 35% of global industrial output, has effectively become the world’s only industrial superpower.
