Al Mayadeen English

  • Ar
  • Es
  • x
Al Mayadeen English

Slogan

  • News
    • Politics
    • Economy
    • Sports
    • Arts&Culture
    • Health
    • Miscellaneous
    • Technology
    • Environment
  • Articles
    • Opinion
    • Analysis
    • Blog
    • Features
  • Videos
    • NewsFeed
    • Video Features
    • Explainers
    • TV
    • Digital Series
  • Infographs
  • In Pictures
  • • LIVE
News
  • Politics
  • Economy
  • Sports
  • Arts&Culture
  • Health
  • Miscellaneous
  • Technology
  • Environment
Articles
  • Opinion
  • Analysis
  • Blog
  • Features
Videos
  • NewsFeed
  • Video Features
  • Explainers
  • TV
  • Digital Series
Infographs
In Pictures
  • Africa
  • Asia
  • Asia-Pacific
  • Europe
  • Latin America
  • MENA
  • Palestine
  • US & Canada
BREAKING
Abu Zaid: I believe that the Iranian operation was multi-layered, combining cyber and electronic attacks with coordinated on-the-ground infiltrations by agents
Abu Zaid: Usually, archives of such sensitivity are typically protected by a full-scale security system, but it appears that Iranian intelligence managed to make use of a gap in it
Strategic military expert Nidal Abu Zaid: Iran has stripped "Israel" of the superiority and deterrence long boasted by its security minister, chief of staff, and other top officials
Fallahpour: Iran may use these documents in its battle with the United States and Western countries over its nuclear program
Fallahpour: Iran may have obtained additional documents related to "Israel's" regional projects, not just its nuclear program
Fallahpour: The coming weeks will be full of surprises, as Iran has forced Israeli intelligence agencies into a state of psychological exhaustion
Al Mayadeen's correspondent in Tehran, Siavash Fallahpour: Iran has redefined the concept of deterrence, shifting it away from traditional military balance toward a new strategic framework
Sources to Al Mayadeen: Number of documents so great that merely studying them, along with accompanying images and footage will require a great deal of time.
Sources to Al Mayadeen: Large data trove was confirmed to have arrived to "safe sites".
Sources to Al Mayadeen: Operation had taken place in past, but large size of documents and need to transfer entire batch inside Iran necessitated secrecy.

Yuan more preferable as China, Russia de-dollarize trade

  • By Al Mayadeen Net
  • Source: Global Times
  • 25 Feb 2022 21:47
  • 2 Shares
4 Min Read

Overcoming western sanctions, Russia and China are de-dollarizing their trade and opting for the Chinese yuan.

  • x
  • Russian President Vladimir Putin and Chinese President Xi Jinping
    Russian President Vladimir Putin and Chinese President Xi Jinping

As Russia's ruble underwent a period of instability over the past few days in light of tensions with Ukraine and the West, experts said Friday the currency's volatility would not be a cause for concern for trade between Moscow and Beijing.

Trade between the two countries has shifted from the dollar to the yuan as they strive for de-dollarization, and the yuan's becoming more prominent in bilateral trade settlements is also considered a means of safeguarding Russia from the sanctions it is facing.

China's energy trade with its northern neighbor, which makes for a wide chunk of trade between the two nations, uses the US dollar, and the latter rose as high as one USD per ruble on Thursday ahead of the Russian currency's slight recovery on Friday.

Lately, agreements made it so that the trade is settled increasingly in yuan, meaning any adverse effects to the ruble would not affect bilateral energy trade.

Chinese-Russian trade has been surging lately, with their goods trade increasing by nearly 36% year-on-year in 2021, amounting to nearly $146.9 billion, Beijing's official data showed, as China has been Russia's top trading partner for the last 12 years.

Chinese energy imports from Russia soared 47.4%, an increase of more than $52.9 billion from 2021, making for more than 65% of China's total imports from Russia.

Russia's Sputnik news agency reported Friday that Gazprom, the oil giant behind Nord Stream 2, said it became the first company in the federation to entirely opt-out from using the USD in trade in favor of the Chinese yuan.

Related News

White House listed Tucker Carlson as potential TikTok investor: FT

US immigrants held in appalling conditions at Djibouti base: Intercept

Gazprom Neft also has plans to switch to yuan settlements on jet fuel in the ruble for Chinese airlines in Russian airports by the end of the year, the same outlet said.

The ruble has been recovering due to the Russian central bank intervening in the market, as the body vowed to "use all necessary instruments to maintain the financial stability and business continuity of financial institutions."

The Bank of Russia also prohibited short sales in its exchange and over-the-counter markets, effective Thursday.

Even the Russian stock market made up some ground from the losses it sustained on Thursday when it took a huge plunge in light of the latest developments in Eastern Europe.

The European Union has agreed Friday to freeze European assets linked to Russian President Vladimir Putin and Foreign Minister Sergei Lavrov over Moscow's operation in Donbass.

The European decision was accompanied by a wave of sanctions from the US, Europe, and other Western allies.

The tsunami of sanctions that Russia is repeatedly telling the west has no effect come in light of leader Vladimir Putin authorizing a special military operation in Donbass over the constant Ukrainian shelling of Lugansk and Donetsk People's Republics, whose independence Moscow recognized a few days ahead of the operation.

Moscow's ministry of foreign affairs informed the international community the operation in Ukraine was not the beginning of a war, but rather an attempt at curbing one after the west bombarded the situation with condemnations.

Russia has for months been warning of the threat posed against it by NATO's attempts to expand eastward, which happened simultaneously with an increase in NATO military activity along Russia's borders, and batches of lethal weapons being sent to Ukraine, prompting Russia to request security guarantees from the West. Washington failed to provide the guarantees.

  • United States
  • Lugansk
  • USD
  • China
  • Donbass
  • Donetsk
  • Ruble
  • Ukraine
  • Vladimir Putin
Russia & NATO

Russia & NATO

As the Draconian Western-led sanctions on Russia exacerbate the economic crisis worldwide, and as Russian troops gain more ground despite the influx of military aid into Ukraine, exposing US direct involvement in bio-labs spread across Eastern Europe and the insurgence of neo-Nazi groups… How will things unfold?

Most Read

Lebanon's PM Nawaf Salam meets with US envoy Morgan Ortagus in Beirut on April 5, 2025 (Dalati Nohra via AP)AP)

Morgan Ortagus to exit US role in Lebanon amid policy shift

  • Politics
  • 1 Jun 2025
A Palestinian woman mourns as she embraces the body of her daughter Mayar Abu Odeh, 8, who was killed in an Israeli army strike on Gaza. at Al-Shifa Hospital in Gaza City, Wednesday, June 4, 2025. (AP)

French port workers block arms shipment to 'Israel' amid Gaza genocide

  • Politics
  • 4 Jun 2025
New Syrian group claims Golan strike, vows resistance to 'Israel'

New Syrian group claims Golan strike, vows resistance to 'Israel'

  • Politics
  • 4 Jun 2025
Palestinians struggle to get donated food at a community kitchen in Khan Younis, southern Gaza Strip, Monday, June 2, 2025. (AP)

Boston Consulting Group withdraws from GHF

  • Palestine
  • 3 Jun 2025

Coverage

All
War on Gaza

Read Next

All
https://english.almayadeen.net/news/politics/pentagon-chief--nato-likely-to-back-trump-s-5--defence-spend
Politics

Europe spent $3 trillion on defense, but got little in return - FT

Power, parties, and scandal: Trump’s ties to Epstein: Telegraph
Europe

Power, parties, and scandal: Trump’s ties to Epstein - The Telegraph

Eilat port as seen from the sea, occupied Palestine, March 12 2009 (wikimedia commons)
Politics

YAF operations forced 80% plunge in Eilat port revenues in 2024

EU backs International Criminal Court after US sanctions judges
Europe

EU backs International Criminal Court after US sanctions judges

Al Mayadeen English

Al Mayadeen is an Arab Independent Media Satellite Channel.

All Rights Reserved

  • x
  • Privacy Policy
  • About Us
  • Contact Us
  • Authors
Android
iOS