Lavrov said that Russia and China trade 100% in national currencies

Russia and China trade 100% in rubles and yuan. This was announced on May 20 by the head of the Ministry of Foreign Affairs of the Russian Federation Sergey Lavrov.

"Russia and China are already trading 100% in rubles and yuan," Lavrov said in an interview with the Shanghai Media Group (SMG).

He added that more and more countries are abandoning the dollar as the world's reserve currency. According to him, the corresponding trends are observed in Latin American countries, as well as on such platforms as the Association of Southeast Asian Nations (ASEAN) and the Shanghai Cooperation Organization (SCO).

"It means a very simple thing. The system that the West led after World War II, the financial and economic system, can no longer function in such a way that the West continues to benefit," the diplomat added.

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Russian President Vladimir Putin said on the same day that many of the agreements signed by Russia and China are aimed at deepening economic cooperation between the two countries. The Head of State stressed that almost all Russian-Chinese trade operations are carried out in rubles and yuan. Putin noted that trade between Russia and China is protected from external influence and negative trends in global markets.

Chinese President Xi Jinping, in turn, said that the trade exchange between Russia and China has exceeded $200 billion for the third year in a row. He also called the results achieved over the years of cooperation between Moscow and Beijing "constantly admirable."