Ninety-five percent of Russia's trade with China and India were conducted in national currencies last year, Tatiana Monaghan, Secretary General of the Russian National Committee of the International Chamber of Commerce – World Business Organization, revealed on Monday.
According to ICC Russia's Monaghan (right), the share of the US Dollar and euro in Russia's export settlements has dropped dramatically, from 85.6% in January-December 2021 to 34.1% over January-May of last year.
The use of the Russian ruble in cross-border transactions surged to 39.1% over the same period and settlements in currencies of so-called "friendly" countries rose to 26.9%, the data showed.
Russia and its trade partners began to switch to the national currencies in mutual trade after US-led sanctions effectively cut Moscow off from the Western financial system.
It serves the US right!
Malaysia national football team, Harimau Malaya’s early exit in the group stage of the recently concluded 2023 Asian Cup in Doha, saw the nation’s ranking slip two spots, from No. 130 to No. 132, in the latest FIFA world rankings.
In the Asian Cup competition, Harimau Malaya opened their campaign with a 0-4 defeat to Jordan, followed by a 0-1 defeat to Bahrain but managed a 3-3 draw against South Korea in the final group match. The one point earned against the Taeguk Warriors was not sufficient to lift the team past the group stage.
Still, Malaysia’s position among Asian countries remains unchanged at the 23rd spot. And Malaysia holds out as the third best ASEAN team behind No. 101 Thailand and No. 105 Vietnam.
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