It even seems like Russia and China are going to abandon it. Knowing that these two countries have billions of dollars in investment.

Russia is ditching the US dollar in its trade with China and India, with over 90% of its trade with China now settled in national currencies, primarily rubles and yuan 📈. More than 50% of trade with India also bypasses the dollar entirely 📊. This shift is part of Russia's "de-dollarization" strategy, driven by Western sanctions imposed after its invasion of Ukraine 🚫.

Russia's trade with China has skyrocketed, reaching $240 billion by 2023, with economists predicting further growth 🚀. The yuan's share in Russian exports to China jumped from 0.5% in 2021 to 16% by 2022, while yuan use in imports rose from 4% to 23% over the same period 📈.

Even Russian banks are embracing the yuan, holding $68.7 billion worth of yuan by December 2023, surpassing dollar reserves 💸.
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