Tag: Alexander Novak

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Russia and Iran Phasing Out US Dollar in Bilateral Trade Settlements

May 19, 2023

The governments of Russia and Iran are starting to phase out the usage of the U.S. dollar to conduct bilateral trade settlements. Russian Deputy Prime Minister Alexander Novak stated that 80% of Russia-Iran trade transactions are settled using national currencies and that they are considering also the usage of the Chinese yuan. 80% of Russia-Iran…
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Russia to Increase Reliance on National Currencies in Energy Trade, Vows to Move Away From the US Dollar

April 24, 2023

Russia will increase its reliance on national currencies to settle payments for its energy resources, moving away from the US dollar, according to Russian Deputy Prime Minister Alexander Novak. Novak noted there is a great interest in acquiring Russian energy resources, leading Russia to accept more currencies for these settlements. Russia Aims to Settle Energy…
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