Russia and China have almost completely stopped using the dollar in their mutual trade, said Russian Foreign Minister Sergei Lavrov

Russia and China have almost completely stopped using the dollar in their mutual trade, said Russian Foreign Minister Sergei Lavrov.


Russian Foreign Minister Sergei Lavrov stated in Moscow on Monday that Russia and China have significantly reduced their use of the dollar in their bilateral trade, as reported by Tass.

Lavrov noted that more than 90% of settlements between the two countries are now conducted in their respective national currencies. He emphasized that despite Western countries' efforts to hinder their cooperation, trade and economic ties between Russia and China are flourishing.

The economic relationship between Russia and China has seen a substantial uptick since Russia's invasion of Ukraine in 2022 and the subsequent imposition of Western sanctions. Trade between the two countries surged by 26% to $240 billion in 2023.