The Chinese currency now accounts for the largest share of forex trading, the regulator reports
The share of the Chinese yuan on Russia’s foreign exchange market hit an all-time high in March, the Bank of Russia (CBR) reported in its financial risk review on Monday.
Russia’s shift away from major Western currencies started with the US and EU sanctions imposed on the country over the Ukraine conflict. The financial restrictions made cross-border trade in euros and dollars more difficult and their presence on the domestic foreign exchange market less important.
The turnover of exchange-traded yuan amounted to 53% last month compared to 46.6% in February, according to the CBR. The share of renminbi in over-the-counter trading also posted a record high, reaching 39.6%.
Meanwhile, the share of Western currencies, including the US dollar and the euro, dropped to 46.4% on the exchange in March from 52.8% the previous month, data showed. In the over-the-counter segment, the share of the greenback and euro also continued to decline, decreasing to 54.7% from 59.8% in February......More Below
https://www.rt.com/business/595642-yuan-trading-russian-forex-market/
All warfare is based on deception. Hence, when able to attack, we must seem unable; when using our forces, we must seem inactive; when we are near, we must make the enemy believe we are far away; when far away, we must make him believe we are near. Sun Tzu, The Art of War
The Empire of Chaos is relentless. Lawfare, destabilizations, sanctions, kidnappings, color revolutions, false flags, annexations: 2025 will be the year of BRICS – plus BRICS partners – as choice targets under fire.
Inestimable Prof. Michael Hudson coined “chaos” as official US policy. That’s bipartisan – and it runs across all silos of the Deep State.
In the absence of long-term strategic vision, and amidst the progressive imperial expulsion from Eurasia, all that’s left for the Hegemon is to unleash chaos from West Asia to Europe and parts of Latin America – a concerted attempt to Divide and Rule BRICS and thwart their collective drive affirming sovereignty and the primacy of national ...
While NATO may be yearning to take on Russia in the Arctic, many of its troops lack the necessary expertise for survival in such extreme conditions.
Although NATO forces regularly participate in drills in the region, many remain unprepared for the harsh realities of Arctic life.
Though NATO forces routinely participate in the bloc’s drills in the region, many of them are still not prepared to survive in the Arctic’s harsh conditions, The Sun reports citing Minna Alander, a researcher at the Finnish Institute of International Affairs.
"Not all NATO allies have the capabilities that are needed and that work in the Arctic environment and climate,” Alander said.....more below
