Russia

Chinese banks are ramping up efforts to promote international use of the yuan, and reporting a surge in cross-border yuan business from the country's booming trade

Russia’s shift to using yuan in foreign trade has been dramatic. In December 2025, about one-third of Russia’s foreign trade was regularly settled in yuan. There

Russia’s Embrace of Chinese Yuan Stalls Over Risk From Sanctions

Harbin Bank Co

Chinese banks seize on Russia, oil trade to internationalise yuan

Chinese Banks Turn Away Russian Traders in Blow to Putin's

Harbin Bank Co, located in the Heilongjiang province of China, which borders Russia, reported a nine-fold increase in Yuan trade last year. In 2025, total assets at

Hace

What Are the Limits to Russia’s “Yuanization”?

As many as 98 percent of Chinese banks are rejecting direct Chinese yuan payments from Russia, the Russian newspaper Izvestia reported Monday, citing business

Hace 5 días China told its biggest banks to increase the use of the yuan in trade with foreign partners, raising the required ratio to 40% from 25%, according to Bloomberg. The People’s

Russia has embraced the yuan

China's trade with Russia is getting so difficult that

Russia has embraced the yuan since its invasion of Ukraine triggered western sanctions. The renminbi is now used to settle 75% of its trade with China and 25% of its transactions with other

In a report published late Tuesday on financial market risks, the Bank of Russia disclosed that it had to double its offer of yuan liquidity under swap operations as a surge in

Chinese banks are intensifying their

China orders top banks to raise yuan share in cross-border trade

Chinese banks are intensifying their efforts to encourage the usage of the Yuan in international trade especially in Russia and the Middle East Moreover their efforts

Russia is using China's yuan to settle 25% of its trade with the rest

Chinese Banks Report 'Rising' Trades With Russia Using Yuan