OREANDA-NEWS Today, 95% of mutual settlements between Russia and China are carried out without the participation of currencies of third countries, Russian Ambassador to China Igor Morgulov said in an interview with RIA Novosti.

In March-April of this year, there was a slight decrease in bilateral Russian-Chinese trade. In particular, in March, for the first time since 2022, the total export of goods from China to Russia decreased by the year. Many attributed this to the difficulty of mutual settlement processes.

"As for the problem of settlements, let's not forget that today they are already 95% carried out in rubles and yuan, that is, without the participation of currencies of third countries," Morgulov said.

The trade turnover between China and Russia increased by 26.3% in 2023, amounting to a record 240.11 billion dollars. The leaders of Russia and China had previously set the task of doubling trade turnover, bringing it from $100 billion per year in 2018 to $200 billion by 2024, this figure was reached in November 2023.

Russia and China celebrate the 75th anniversary of the establishment of diplomatic relations on October 2. The Soviet Union became the first country to recognize the People's Republic of China the very next day after its proclamation.
Read the full text of the interview on the website ria.ru October 2 at 9.00 Moscow time.