Russia Wants to Pay Debts in Chinese Yuan, Dollar Still Dominant

Russia Wants to Pay Debts in Chinese Yuan, Dollar Still Dominant
Russian President Vladimir Putin chairs a government meeting via a video link at the Novo-Ogaryovo state residence outside Moscow on March 23, 2022. Putin has demanded that European nations to pay for their natural gas purchases from Russia in rubles. Mikhail Klimentyev/Sputnik/AFP via Getty Images
Antonio Graceffo
Updated:
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News Analysis

The West has rejected Russian President Vladimir Putin’s demand that gas payments be made in rubles. China is offering the yuan, but prospects are dim.

Antonio Graceffo
Antonio Graceffo
Author
Antonio Graceffo, Ph.D., is a China economy analyst who has spent more than 20 years in Asia. Graceffo is a graduate of the Shanghai University of Sport, holds an MBA from Shanghai Jiaotong University, and studied national security at American Military University.
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