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Russia plans to seek wider use of ruble globally — PM Mishustin

Russian Economic Development Minister Maxim Reshetnikov said earlier that the share of the ruble and the Chinese yuan in trade settlements between Russia and China has reached 90%

MOSCOW, September 28. /TASS/. Russia aspires to make the ruble more widely used in the global economy, particularly through settlements in national currencies, according to Russian Prime Minister Mikhail Mishustin.

"We intend to hasten the transition to wider use of the ruble. We are expanding the network of direct correspondent accounts between Russian banks and friendly countries in national currencies, as well as the list of friendly countries' currencies traded on the Moscow Exchange," he said.

Russian Economic Development Minister Maxim Reshetnikov said earlier that the share of the ruble and the Chinese yuan in trade settlements between Russia and China has reached 90%. "Our trade in national currencies is now 90%. The share of the Russian ruble was 4%, now it is 20%," Reshetnikov said. He noted that the emphasis on the yuan in trade is inevitable based on the size of the Chinese economy and the convertibility of the currency.

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Mikhail Mishustin

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