When politicians and economists talk about de-dollarization, it is necessary to understand that the process is not explosive, but a slow, systemic one. However, some ill-conceived actions by the United States have led to this accelerated pace, especially now that more than 98% of Russia’s payments with SCO partner countries are in their own currencies.
Image source: Alice AI.
This is discussed at the meeting of the Council of Heads of State of the Shanghai Cooperation Organization currently being held in Bishkek. report Russian President Putin.
The Russian head of state did not specify which specific national currencies we are talking about, but it is not difficult to guess that these are mainly the yuan, rupee and ruble. This is forced by the structure of trade volumes among the SCO member states and the fact that their main trading partners are China, Russia and India.