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CIS Nations Accelerate De-Dollarization as Russia and Belarus Settle 99% of Trade in Local Currencies
CIS Nations Accelerate De-Dollarization as Russia and Belarus Settle 99% of Trade in Local Currencies
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BTCCSquare news:
Russia and Belarus have executed 98.9% of their bilateral trade settlements in local currencies during Q1 2025, marking a decisive shift away from the US dollar. The MOVE underscores the accelerating de-dollarization trend among sanctioned states, with Moscow explicitly framing it as a permanent strategy rather than a temporary workaround.
Deputy Prime Minister Alexei Overchuk confirmed the policy at the St. Petersburg International Economic Forum, signaling institutionalization of non-USD trade mechanisms. The WHITE House's sanction regime appears to be backfiring as targeted nations not only bypass the dollar but actively promote alternative settlement systems to their trading partners.
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