Russia’s president Vladimir Putin reasserts the Russia-China bilateral decision to settle “mutual payments in national currencies,” i.e. without the use of US Dollar.
He also emphasised that other financial steps are being implemented between the two countries to optimize the “cooperation between [Russia and China] banks.
” Other surprises are in store as Putin stressed. “We intend to consider new financial instruments…”
In terms of trade it appears that China and Russia have established mechanisms which undermine the economic sanctions regime directed against the two countries:
“we also considered ways of diversifying trade and reducing its dependence on the global economic situation…”
PRESIDENT OF RUSSIA VLADIMIR PUTIN: President Xi Jinping, ladies and gentlemen, friends,
“…In the course of the meeting, we also considered ways of diversifying trade and reducing its dependence on the global economic situation. We will promote cooperation in technology-intensive areas, such as civil aviation.
We have good prospects here, projects to create wide-bodied aircraft and civil heavy-lift helicopters. We are also developing cooperation in car manufacturing.
Cooperation between banks is also growing, and we will continue developing the financial infrastructure. Work is underway to increase the amount of mutual payments in national currencies, and we intend to consider new financial instruments…”
The original source of this article is Global Research
Disclaimer: The contents of this article are of sole responsibility of the author(s). The Centre for Research on Globalization will not be responsible for any inaccurate or incorrect statement in this article. The Centre of Research on Globalization grants permission to cross-post Global Research articles on community internet sites as long the source and copyright are acknowledged together with a hyperlink to the original Global Research article. For publication of Global Research articles in print or other forms including commercial internet sites, contact: [email protected]
www.globalresearch.ca contains copyrighted material the use of which has not always been specifically authorized by the copyright owner. We are making such material available to our readers under the provisions of "fair use" in an effort to advance a better understanding of political, economic and social issues. The material on this site is distributed without profit to those who have expressed a prior interest in receiving it for research and educational purposes. If you wish to use copyrighted material for purposes other than "fair use" you must request permission from the
copyright owner.
