All news

Only 15% of Russia's trade done in dollars, euros — Kremlin official

Maxim Oreshkin, Deputy Chief of Staff of the Russian Presidential Executive Office, noted that sanctions pressure enabled a faster transition to a 'new track'

YEKATERINBURG, September 15. /TASS/. Russia is no longer dependent on Western financial systems, as the combined share of the US dollar and euro in international trade settlements fell to 15% in 2025, Maxim Oreshkin, Deputy Chief of Staff of the Russian Presidential Executive Office, said. He was speaking at the "World of the Future: What Will We Create?" session during the International Youth Festival.

"Our currency structure has transformed completely. The share of the Russian ruble has risen sharply, along with the share of BRICS currencies--primarily the Chinese yuan--while the dollar and euro accounted for just 15% of international trade last year," Oreshkin said. "Our foreign trade and financial system have adapted very rapidly. Sanctions pressure enabled a faster transition to a 'new track,' and we are no longer dependent on instruments provided by the Western financial system. Those who imposed the sanctions are the ones suffering the most from them."

The International Youth Festival is running in Yekaterinburg from September 11 to 17 under the motto "Follow Your Dream." The event is expected to attract 10,000 young leaders from 191 countries, split equally between Russia and foreign nations. The program also includes 1,000 teenagers aged 14 to 17. TASS is the general media partner for the event.