ST. PETERSBURG, June 7. /TASS/. The ruble share in settlements with former Soviet republics is close to 70%, Russian President Vladimir Putin said at the plenary session of the St. Petersburg International Economic Forum (SPIEF).

"For example, 90% of our trade turnover with China is regulated in yuan and rubles. On the post-Soviet space, the ruble share is also approaching 70%," the head of state said.

The St. Petersburg International Economic Forum (SPIEF) is being held on June 5-8. This year’s theme will be "The Formation of New Areas of Growth as the Cornerstone of a Multipolar World." Scheduled events include meetings for small and medium-sized businesses, creative industries, the SPIEF Youth Day, as well as the Drug Security, SPIEF Academy and SPIEF Junior forums. SPIEF is organized by the Roscongress Foundation. TASS is the information partner of the event.