Russia and China bypassing SWIFT – deputy PM ...News

The trade partners have been boosting transactions in national currencies, Aleksandr Novak says Moscow and Beijing are developing a system of settlements which could allow cross-border transactions without using the Western financial messaging system, SWIFT, Deputy Prime Minister Aleksandr Novak revealed on Tuesday. The two countries have reportedly accelerated efforts to move away from the US dollar and the euro, towards settlements using domestic currencies. “In gas contracts we are already switching to settlements in national currencies – in rubles and in yuan – on a parity basis. Supplies of oil and oil produc

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