Over 80% of transactions between Moscow and Beijing are in rubles and yuan, the Russian president says
© Getty Images / Oleg Elkov
Russia-China trade and economic cooperation is expanding, with over 80% of settlements between the two nations currently made in rubles and yuan, President Vladimir Putin has revealed.
The Russian leader was addressing a virtual summit of the Shanghai Cooperation Organization (SCO) on Tuesday via videolink from Moscow. The 23rd SCO summit is being chaired by Indian Prime Minister Narendra Modi.
The organization was founded in 2001 as an economic and security bloc by the presidents of Russia, China, the Kyrgyz Republic, Kazakhstan, Tajikistan, and Uzbekistan. India and Pakistan became permanent members in 2017.
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