As western governments ratchet up sanctions against Russia over its invasion of Ukraine, Moscow's emerging markets allies are exploring channels for trade and financing to continue.
Deng Kaiyun, who heads Zhejiang's chamber of commerce that represents Chinese private businesses that trade with Russia, said doing transactions without SWIFT was not a big issue, as the two countries both started de-dollarisation five years ago.
A source at a Chinese state bank who declined to be identified says "exporters are now in favour of using yuan to settle their payments" with Russia. Some of those trades were settled in euros or dollars until last week. "Although it's hard to replace SWIFT in the short term, this incident is very beneficial to yuan's globalisation over the long run."Investment firm Caderus Capital said it has been working to promote cross-border investment between Russia and China.
"If we talk about trade and investment, it makes a lot of sense for both countries not to trade in the in U.S. dollars, because then you have double conversion, in addition to other difficulties recently," Akopian said.
Brasil Últimas Notícias, Brasil Manchetes
Similar News:Você também pode ler notícias semelhantes a esta que coletamos de outras fontes de notícias.
Russia-Ukraine live updates: Ukraine, Russia at Belarus border for talksLATEST: As Ukrainian and Russian delegations meet for talks, an immediate ceasefire and a “neutral status” are the key items to be discussed, officials say.
Consulte Mais informação »
Russia-Ukraine live updates: Putin puts nuclear forces on high alert; Ukraine announces talks with RussiaUkrainians held Kyiv and Kharkiv as Putin's invasion intensified, and President Volodymyr Zelensky accused Russia of attacking civilians.
Consulte Mais informação »
Russia-Ukraine live updates: EU announces strict actions against RussiaA massive blaze engulfed an oil depot in a small town near Kyiv, Ukraine, amid the ongoing Russian invasion of the country.
Consulte Mais informação »
Russia, Ukraine meet for talks; Russia shells Ukraine's second-largest city: LIVE UPDATESBelarus may join the Russian invasion of Ukraine, which entered its fifth day on Monday. Fighting in the streets has engulfed Ukraine's second-largest city, Kharkiv, and Russian troops are encircling Ukraine's capital city, Kyiv.
Consulte Mais informação »
Analysis: As Russia invades Ukraine, Moscow battles big tech to control the narrativeAs Russian missiles rained down on Ukrainian cities, another battle took place online and over the airwaves.
Consulte Mais informação »
Analysis: US sanctions on Russia serve China a sharp reminder of need for its own chipsThe sweeping restrictions imposed on Russia to block its access to global exports of goods from chips to computers and electronics are likely to accelerate China's own push for self-reliance in the semiconductor industry, analysts said.
Consulte Mais informação »