(Bloomberg) -- Russia and China have almost completely stopped using the dollar in their mutual trade, Foreign Minister Sergei Lavrov said in Moscow on Monday, according to Tass. 

More than 90% of settlements are carried out in the two countries’ national currencies, Lavrov said. Trade and economic cooperation between Russia and China is actively developing despite persistent attempts by Western countries to prevent this, he added. 

Economic ties between the two countries have boomed since Russia invaded Ukraine in 2022 and the West imposed sanctions. Trade between Russia and China increased by 26% to $240 billion in 2023. 

 

 

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