Yuan-denominated assets are gaining favor in the Russian market as bilateral trade gains momentum, a Chinese expert said on Thursday, after Russia's largest bourse predicted that the trading volumes of Chinese yuan and Russian rouble would exceed that of the rouble and the US dollar next year.

Facing sanctions by the US-led West, Russia has been cutting its usage of US dollar and the euro, while increasing settlement in local currencies in foreign trade, Li Xin, director of the Institute for Eurasian Studies at the Shanghai University of Political Science and Law, told the Global Times on Thursday....more

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