Deng Kaiyun, who heads Zhejiang's chamber of commerce that represents Chinese private businesses that trade with Russia, said doing transactions without SWIFT was not a big issue, as the two countries both started de-dollarisation five years ago.
A source at a Chinese state bank who declined to be identified says "exporters are now in favour of using yuan to settle their payments" with Russia. Some of those trades were settled in euros or dollars until last week. "Although it's hard to replace SWIFT in the short term, this incident is very beneficial to yuan's globalisation over the long run."Investment firm Caderus Capital said it has been working to promote cross-border investment between Russia and China.
"If we talk about trade and investment, it makes a lot of sense for both countries not to trade in the in U.S. dollars, because then you have double conversion, in addition to other difficulties recently," Akopian said.
Big money always seems to find a way.
EU has been played by US.RussiaUkraine Wars has not benefited Europe at all. it is constantly satisfying the interests of US, countries are constantly increasing their military budgets,arms dealers are making a profit,EU would import oil gas from US,US would get all money.
When are we going sanction Israel for killing innocent Palestinians ? Or they don't meet your agenda ?