Russia reportedly wants to further cut its dependence on the US dollar by buying up Chinese yuan on the currency market
Russia will start making purchases of yuan on the currency market in 2023 if the country's oil and gas revenues meet expectations,, with the potential move by Moscow aimed at further reducing its dependence on the US dollar and Western finance.
Two unnamed sources told Reuters the interventions will resume next year in yuan as long as revenues from oil and gas exports surpass 8 trillion rubles as set out in budget plans.
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