The refusal of dollar in calculations with China

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Photo: Reuters

Russia and China are preparing an agreement on mutual settlements in national currencies, RBC words of the head of Vnesheconombank Igor Shuvalov.

According to him, the document can be signed before the end of the year. The issue has already been discussed, the Ministers and Vice-premiers of Russia and China to “go out on the signing of this agreement as soon as possible”, said Shuvalov.

The topic was also discussed at the meeting of Prime Minister Dmitry Medvedev and President of China XI Jinping. In the calculations, as said the head of VEB, Russia and China can use their analogues SWIFT and “other forms”.

“This form of settlement we understand, use traditional, non-documentary, documentary payments. There are new techniques that are developing under the auspices of the Central Bank, and the same alternative SWIFT system is in the people’s Republic of China”, — said Shuvalov.

Earlier, Medvedev said that in the near future Russia and China should increase trade by half. According to him, the first time in history the volume of trade between the two countries could exceed $ 100 billion.

Video, photo All from Russia.

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