USD to be dropped off from Russian-Chinese trade

The Russian and the Chinese central banks have developed a draft agreement on foreign exchange transactions in the accounts of the foreign trade turnover between the two countries, and to make the elimination of the dollar possible in these transactions.

“A Draft Agreement was concluded between the Russian central bank (Central Bank of Russia) and the Chinese central bank (People's Bank of China) about foreign exchange duties” – the Itar-Tass news agency quoted by the communication that was published on the website of the Russian Financial Supervision Authority. (MTI)