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Cutting out the US dollar: Russia & China boost national currencies trade

Cutting out the US dollar: Russia & China boost national currencies trade thumbnail

Moscow and Beijing have agreed to raise the share of ruble-yuan trade settlements, in a joint agreement signed by Russian President Vladimir Putin and Chinese leader Xi Jinping on Friday.

The document envisages “further strengthening of the Russian-Chinese cooperation in the financial sector, promoting increase of the share of national currencies in trade payments, investments and financing, expanding collaboration in such fields as payment systems and insurance.”

The two leaders agreed to raise trade turnover and further improvement of its structure, searching for new growth areas and collaboration in trade and economic cooperation. President Putin said Russia-China trade turnover could hit $100 billion by the end of this year.

According to the document, the sides also plan to “boost efforts aimed at harmonizing strategies, programs and measures to develop national economies and particular sectors.”

They also want to “create favorable environment for Russian and Chinese enterprises; jointly promote big projects in accordance with subjectivity principles of companies, the market-oriented approach, commercial-based work and observance of global practices; and sustainably expand the scope and raise the level of Russian-Chinese investment collaboration,” as well as to create favorable conditions for trans-border bond issuance.

The issues of “deepening cooperation in the oil and gas, coal, electricity areas, as well as in the fields of renewable energy resources, energy equipment and energy efficiency” are also on the agenda.

China is Russia’s largest trading partner, accounting for 15 percent of Russian international trade last year. Bilateral trade increased by 31.5 percent in 2017, reaching $87 billion.

As trade grows, the two countries are promoting settlements in ruble and yuan, bypassing the US dollar and other Western currencies.

According to the Russian Central Bank, both Russian and Chinese companies are willing to pay in ruble and renminbi, and this can be proven by real numbers. Last year, nine percent of payments for supplies from Russia to China were made in rubles, the regulator told RT. Russian companies paid for 15 percent of Chinese imports in the renminbi. Just three years ago, the numbers were two and nine percent, respectively.


42 Comments on "Cutting out the US dollar: Russia & China boost national currencies trade"

  1. Davy on Sat, 9th Jun 2018 1:45 pm 

    9 &15% ? Big woop. Still the same noise we hear once a month out of the Russophile/Sinophile anti-American klick baits. Say something when it goes over 50% and bilateral trade rises to $200BIL otherwise quit trying to be dramatic.

  2. Makati1 on Sat, 9th Jun 2018 2:19 pm 

    America, the unexceptional/dispensable nation:

    “Might for Right: America Makes “Us” the Target”
    “The Latest Round of Sino-European Maneuvers in Response to US “Protectionism””
    “US Regime Change and its Armies of “Garbage””
    “Facebook Is Teetering at the Top of the Beanstalk”
    “Uncle Sam Wants You High on Digital Drugs!”
    “USA in a Debt Trap Death Spiral”

    “Xi awards Putin highest honor”
    “Abe, Putin discuss upgrading economic activity on Kurils”
    “Macron, Putin discuss Iran, Syria, Ukraine “
    “Modi meets Putin in ‘informal’ meeting in Sochi”
    Trump jeopardizes global diplomacy”
    China has a strategy for its future, US Senator says “

    Slip Slidin’…

    BTW: I doubt 1 in 1 million Americans even know where the Kurils are. LOL

  3. JuanP on Sat, 9th Jun 2018 2:26 pm 

    Russia and China keep constantly improving their relationship. The heads of state of countries representing half the global population are having an extremely successful SCO meeting in China at this moment. This is the first SCO meeting with both India and Pakistan as full members. The mood at the SCO meeting is extremely optimistic. What a contrast to the big failure of the G6+1 meeting in Canada.

    Russia and China continue setting up the institutions, systems, and mechanisms that will allow them and their allies to resist American sanctions and trade freely. Trade in Eurasia is exploding. The Chinese Belt and Road initiative is on its fifth year and is an incredible success with huge infrastructure projects being completed left and right. Russia and China are on their way to double their trade by 2020 with bilateral trade between them experiencieng 50% growth in April when compared to a year ago. Bilateral trade is on track to reach $200 billion in 2020. Almost every country in Asia is joining the party.

  4. Davy on Sat, 9th Jun 2018 2:28 pm 

    Sure 3rd world only 360 Americans know geography? Quit the drama and start posting legitimately.

  5. Makati1 on Sat, 9th Jun 2018 3:04 pm 

    Try to be a mature adult, Davy. It will be a new experience for you.

  6. Davy on Sat, 9th Jun 2018 3:10 pm 

    Russia, exported $585BIL last year that tells me there
    Is not room for a dramatic rise in exports from Russia. To China. Russia imports even less. Russia’s economy is not large enough to make the global impact extremist anti-Americans would like Russia to be. Get real people.

  7. Makati1 on Sat, 9th Jun 2018 3:10 pm 

    JuanP, soon the rest of the world will be free of the USD and then the Great Leveling of America will shift into high gear. Russia and China are at financial war with the empire, and will win. They gather allies and strengthen daily. I see the tipping point on the near horizon.

    All that sustains the Us is “faith in the USD” and the rest of the world is losing “faith” quickly as Trump wields sanctions like a bloody club everywhere. Trump is the best destroyer of the Us that there is. A one man wrecking machine. Go Trump!

  8. Davy on Sat, 9th Jun 2018 3:12 pm 

    3rd world, you need to work on being human instead of humanoid.

  9. print baby print on Sat, 9th Jun 2018 3:22 pm 

    Putin said Russia-China trade turnover could hit $100 billion by the end of this year.How much in rubles yuans euros no more dollars

  10. Makati1 on Sat, 9th Jun 2018 3:23 pm 

    Davy, you need to work on being rational and sane. I’m more human than you could ever dream to be. Your posts prove my point to everyone here.

    That you cannot defend your thieving, murdering, insane, drugged up country must be very frustrating. Maybe you should just pull the plug? Do you have MM’s 22 caliber answer to the coming collapse of your lifestyle? Maybe you should. It will be impossible for you to live such a 3rd world life when you have been living so long on your family’s dole and it ends.

  11. MASTERMIND on Sat, 9th Jun 2018 3:33 pm 


    Davy can’t because he has been handed everything on a silver platter from his rich parents..He has no guts because he has never had to scrap his entire life..He has soft hands, from counting his money all day..Just wait till it hyper inflates and is worthless soon..loL

  12. Makati1 on Sat, 9th Jun 2018 3:53 pm 

    The Great Leveling is reaching its goal.

    “People would rather be flattered with delusions of grandeur than have cold buckets of ice watery truth dumped on their head. They want to believe that they are exceptional and that everyone – especially them – can live at the expense of their neighbors….

    Massive amounts of debt, made possible through a debt based fake money system, have brought today’s many unique possibilities for destruction into existence much sooner than would have been possible otherwise. What’s more, the government’s solution, which requires destroying the dollar, is as sensible as cutting off one’s head to cure a headache…

    The many unfortunate souls set to experience the insidious injustice of having their life savings vaporized through state sponsored currency debasement, will come to deeply regret this misplaced faith in government. It will never return.”

    Time to emigrate. Slip slidin’…

  13. Davy on Sat, 9th Jun 2018 3:55 pm 

    I farm 3rd world. I am doing something but all you do is hang out in the small rental house in Typhoon ally and bad mouth your mother country. You should be thinking about some euthanasia strategies for when your health gets really bad and you have nowhere to go.

  14. Davy on Sat, 9th Jun 2018 3:58 pm 

    master millennial, I work and in your own words you have made it clear you don’t do shit because, you know, in give or take 1-5 years we are all dead anyway. That is a great millennial thought process. I think that explains our character differences clear as day.

  15. Davy on Sat, 9th Jun 2018 4:01 pm 

    “The many unfortunate souls set to experience the insidious injustice of having their life savings vaporized through state sponsored currency debasement, will come to deeply regret this misplaced faith in government. It will never return.”

    lol, 3rd world, is telling on himself. 3rd world what country is not debasing? Why do you think all those rich Chinese are fleeing China looking for homes in the west? But but says the 3rd world.

  16. Anonymouse1 on Sat, 9th Jun 2018 4:18 pm 

    Mak, the exceptionalturd has no ‘rich parents’ nor is he ‘rich’ himself. He does like amplify his status and achievements that much is clear, but this is common to most amerikans, who are programmed by mass-media to be very status conscious from birth. On the web of course, it is far easier for someone who comes the lower rungs of society to attempt paint themselves as self-styled members of the upper classes, which of course is a game the exceptionalturd seems to enjoy playing at.

    There absolutely zero evidence, or cause to believe the exceptionalist, is anything other than an angry, and common amerikan consumer-serf. The fact he cannot afford even rudimentary mental health care is but one sign of this. HE cannot even afford a proper computer and keyboard.

    Anyone here could just as easily assert they are multi-millionaires many times over and self-styled elites, but why would anyone accept such claims at face value?
    A: you don’t.

  17. Makati1 on Sat, 9th Jun 2018 4:28 pm 

    Anon, you are likely correct on all points. The internet makes it possible to be anyone, if you can keep your lies straight. Since he rarely refers to his actual financial status, he is likely to be living a fantasy life on here. More of his delusions.

    I am a successful middle class American who has emigrated to a better country. I do not pretend. I find lies require work to keep them straight or you will eventually be exposed. Truth always in my case. Or no comment.

  18. Davy on Sat, 9th Jun 2018 4:29 pm 

    Weasel, you are my finest work. A horribly disfigured extremist anti-American Canadian in extreme discomfort over me is definitely mission accomplished. All you ever do weasel is whine over me. That means no time for you stupid anti-American drivel. Thanks weasel for being so stupid it proves me right.

  19. Davy on Sat, 9th Jun 2018 4:31 pm 

    “Truth always in my case. Or no comment.”’

    Thanks for the chuckle old man you really are in deep dementia. LMFAO

  20. Makati1 on Sat, 9th Jun 2018 4:34 pm 

    Davy, you have ZERO idea or knowledge of “what I am doing”. Only what I post here and that is not much of my real life and activities. I know that this site is one of many watched by “Big Brother”.

    I have no proof that your claims are real either. None. I suspect that most of them are bullshit. However, your mental heath situation comes thru loud and clear to all of us. Get help. I’m sure there are some free heath programs available.

    Don’t delay.

  21. Anonymouse1 on Sat, 9th Jun 2018 4:37 pm 

    And not all the bright either.

  22. Davy on Sat, 9th Jun 2018 5:12 pm 

    3rd world your just repeating yourself. You have a tendency to say the same thing over and over. That is plainly a geriatric issue. Maybe you should consider assisted living back in the states before it is too late.

  23. Makati1 on Sat, 9th Jun 2018 5:36 pm 

    3rd world America:

    “In 2015, ninety-two American missile officers were suspended because they had been cheating, taking drugs, or sleeping in the missile silos. … Two officers aged between 22 and 27 are in charge of each missile silo, and each man is armed with a pistol to shoot the other if one shows signs of deviant behaviour. … The missile silos are equipped with antiquated equipment including floppy disks and telephones that often don’t work. … In more episodes of gross malfeasance, 2013 Vice Admiral Timothy Giardina, the head of the U.S. Strategic Command, was sacked for illegal gambling while Major General Michael Carey, a man in charge of all of the 450 intercontinental ballistic missile silos, was dismissed after a visit to Moscow when he became inebriated and insisted on singing in Russian night clubs, while cavorting with inappropriate women.”

    Slip slidin’…

  24. Makati1 on Sat, 9th Jun 2018 5:40 pm 

    Davy, repeating the same thing is common these days. Just look at your own bullshit, and your Us MSM. Only, in their (and your) case, they are lies, not truth.

    As for moving back to the Us gulag, not if you paid me a $1,000,000.00! I know I am already in the best place to survive the future. LMAO

  25. Davy on Sat, 9th Jun 2018 5:49 pm 

    Well aren’t you spunky 3rd world! Did you bring some Ensure back with you to the P’s?

  26. Makati1 on Sat, 9th Jun 2018 5:53 pm 

    Immaturity does not make you sound intelligent, Davy.

  27. MASTERMIND on Sat, 9th Jun 2018 5:54 pm 

    Americans are depressed and suicidal because something is wrong with our culture

  28. Davu on Sat, 9th Jun 2018 6:09 pm 

    3rd world, chocolate or vanilla?

  29. JuanP on Sat, 9th Jun 2018 8:24 pm 

    China-Russia trade turnover.

  30. JuanP on Sat, 9th Jun 2018 8:29 pm 

    China to double trade with Russia to $200 billion by 2020.

  31. Harquebus on Sat, 9th Jun 2018 9:02 pm 

    As I have said before, trading intrinsically worthless fiat currencies for valueable energy and material products is a very good deal for those who can increase their currency supply at will.
    I don’t think that it will last much longer. The petrodollar is the only thing supporting the U.S. currency.

    Search criteria: russia china accumulate gold

  32. MASTERMIND on Sat, 9th Jun 2018 9:14 pm 


    Get off Putin’s cock you faggot lover..Clogg is going to get upset if he has to get sloppy seconds..And your sources is laughable..

  33. JuanP on Sat, 9th Jun 2018 9:19 pm 

    Well, The G6+1 meeting is over. My main observations came from watching the photos and reading the comunique, which is a huge load of crap. I am quite impressed by how terrible the political leaders that participated. I consider Trudeau, Trump, Macron, Abe, May, and Merkel to quite possibly be the worst political leaders in their respective countries in my life; I don’t know much about the Italian so I won’t judge him yet. These leaders are a very clear symptom of the decline of Western capitalist democracies and the system they created. As I often say with friends like these who needs enemies? These fuckers are destroying their countries fater than any foreign enemies ever could. Keep up the good work!

  34. MASTERMIND on Sat, 9th Jun 2018 9:34 pm 


    Who gives a shit about political leaders..You are as dumb as clogg..We could have monkey ruling us and they would do no better or worse..the global economy and the OECD economies have been contracting for the last four decades..And when the oil runs out soon it will be game over for the global economy..and you are going to live through the worst nightmare in the history of mankind..

  35. JuanP on Sat, 9th Jun 2018 9:37 pm 

    MM, Do you expect anyone to take your immature, sexually depraved rants seriously? Do you think that you bother or offend me by saying those things? I am not an immature, sexually insecure fool like you. LOL! You can’t even write a proper sentence for fucks sake!

  36. Cloggie on Sun, 10th Jun 2018 2:58 am

    I love that picture of Trump. And he is completely right: trade is good, but international trade should be balanced, to the benefit of all.

    And than we have this McCain, who apparently is still alive, stabbing a knife in the back of Trump with this tweet:

    To our allies: bipartisan majorities of Americans remain pro-free trade, pro-globalization & supportive of alliances based on 70 years of shared values. Americans stand with you, even if our president doesn’t.

    McCain and his (US-lead) globalism is on the way out. America basically lost the competition against East-Asia and free trade is no longer in the interest of US workers. There is no need for Americans to drive in Japanese or European cars. Most people in France drive French cars and most Swedes have a Volvo. Let Americans drive in cars made in America. And the Chinese should be forced to increase the prices of their products on world markets by substantially increasing wages of Chinese workers.

  37. Cloggie on Sun, 10th Jun 2018 3:05 am 

    Americans are depressed and suicidal because something is wrong with our culture

    Actually, “foreigners” are doing fine in America. It is white America that is depressed and suicidal… because they are losing their country and are facing the very realistic prospect of becoming a minority in “their own land”. That’s the real reason.

    And it won’t be long until the full truth will dawn onto them, once Trump will be gone eventually. And will start to revolt.

    But I have a feeling that Trump might be up to something and will not simply sit out his term, ranting against the media via twitter.

  38. Cloggie on Sun, 10th Jun 2018 3:19 am 

    Putin smells his chance and calls G7-summit “a lot of drivel” and is eager to meet Trump as soon as possible:

    (Probably in Austria, the birthplace of

    Trump wanted to include Russia in the G7/G8 again, in line with his campaign promise to “get along with Russia”, but such a decision
    needs to be taken unisono and Germany, France, UK and Canada were against it, for the time being, pending an improvement of the situation in the Ukraine. Populist-governed Italy unsurprisingly followed Trump.

    Both Putin and Xi support Trump’s attempt to defuse the situation in Korea.

  39. Davy on Sun, 10th Jun 2018 6:06 am 

    “Actually, “foreigners” are doing fine in America. It is white America that is depressed and suicidal…”
    Actually Europe is the worst with males and crude rate. Asia is above the Americans 3rd world. Both of you are constantly harping you anti-American drivel about US suicide rates but lookie here:

    “Suicide rates by WHO region in 2015 (per 100 000 people)”

    ranking by age-standardized rate which makes the study more uniform if all had the same age profile”
    Southeast Asia, 13.3
    Africa 12.8
    Europe 11.9
    Western Pacific 9.1
    Americas 9.1
    Eastern Mediterranean 4.3

    Ranking by crude male rate:
    Southeast Asia 14.9
    Africa 9.9
    Europe 25.2
    Western Pacific 10.9
    Americas 15.2
    Eastern Mediterranean 5

    Ranking by crude rate:
    Southeast Asia 13.3
    Africa 7.4
    Europe 15.7
    Western Pacific 10.2
    Americas 9.9
    Eastern Mediterranean 3.9

  40. Free Speech Forum on Sun, 10th Jun 2018 11:11 am 

    You know that you are in hell when you live in a police state and those who criticize tyranny get banned and everyone else who mentions the police state supports it.

  41. Makati1 on Sun, 10th Jun 2018 4:32 pm 

    Suicides per 100,000 in 2015:

    #48 – USA – 12.6 (13.4 in 2016)Higher in 2017, 2018, …?
    #87 – Canada- 10.4
    #115 – China – 8.5
    #162 – Ps – 3.8

    Interesting! Slip slidin’ …

  42. MASTERMIND on Sun, 10th Jun 2018 4:38 pm 


    To Wal Mart and beyond!

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