▲Click above to subscribe 点击上方蓝字关注我们The Chinese yuan has surpassed the US dollar as Russia’s most-traded currency.According to the latest data sources, the yuan accounts for 42% of currency dealings in Russia, while the dollar accounts for 39.5%.Furthermore, the data reveal that the yuan’s trading volumes have tripled, reaching $385 billion by 2023.With such widespread use, yuan trading is expected to grow faster this year than last.Russia is currently facing multiple sanctions imposed by the West, primarily the United States, for its involvement in the ongoing conflict in Ukraine.The imposed sanctions have created challenges, undermining Russia’s worldwide dominance and rendering it unable to conduct national and international transactions through traditional and established channels.To avoid these restrictions, Russia has sought other alternatives, such as using the Chinese yuan instead of the US currency to conduct foreign commerce and offshore activiti
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