The share of Russian exports sold in U.S. dollars has fallen below 50% for the first ever time, according to Central Bank data analyzed by Bloomberg.
In the fourth quarter of 2020, 48% of Russia’s exports were sold in dollars — down from a 61% share registered in the same period a year earlier.
The fall below 50% is a symbolic achievement for Moscow’s high-profile dedollarization drive, as big state-controlled exporters have renegotiated contracts in a bid to reduce Russia’s reliance on the U.S. dollar. In 2013, Russia received 80% of its export earnings in dollars…
To read more visit The Moscow Times.
You Won’t Get Anywhere Else What You Get From CDMedia! Donate!
- Diversity Is Not Our Strength, Achievement Is
- US Populists Are Winning, But CCP Will Go Kinetic, And Biden Will Help Them