The Moscow Exchange trading volume in Chinese yuan surpassed that of the US Dollar (USD) in 2023, the Kommersant daily reported on Tuesday, as Moscow pursues a de-dollarisation strategy in the face of Western sanctions on its financial system. Moscow is becoming increasingly dependent on Beijing and the “no limits” partnership between the two countries, having increased energy supplies to China and stepped up purchases of Chinese goods from cars to smartphones as European and U.S. brands left the Russian market over Russia’s actions in Ukraine.
