The official said the share of the US dollar in mutual settlements between the neighboring nations has substantially shrunk over the past two years. And meanwhile, the share of national currencies in Russian-Chinese payments is growing at an extremely rapid pace.
Zinoviev shared: “At the beginning of 2022 it was hovering around 25%, now it is exceeding 80%”. Russian and Chinese businesses are “rapidly moving away from the ‘toxic’ Western currencies, opting for the ruble and yuan as more reliable and safe way of payment”, he had declared.
The changes reflect Russia’s move away from transactions in the currencies of "unfriendly countries" against the backdrop of sanctions. Earlier this year, Finance Minister Anton Siluanov said the country no longer trusts the Dollar, calling it “a completely unreliable instrument”.
In Malaysia yesterday, the by-elections for the Pulai parliamentary seat and Simpang Jeram state seat in Johor were won by the Pakatan Harapan-Barisan Nasional (PH-BN) unity coalition.
PH candidate Suhaizan Kaiat won Pulai with 18,641 majority votes.
He secured 48,283 votes while Perikatan Nasional candidate Zulkifli Jaafar gained 29,642 votes and
independent candidate Samsudin Mahaman Fauzi received 528 votes.
And in Simpang Jeram, PH's Nazri Abdul Rahman won with 13,844 votes defeating PN's Dr Mohd Mazri Yahya who gained 10,330 votes while independent candidate, S Jegananthan obtained 311 votes.
The seats became vacant, following the death of Salahuddin Ayub – PH component party's Amanah deputy president who had served as the domestic trade and cost of living minister – on July 23 due to a brain haemorrhage. He was 61.
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