The transition to settlements in national currencies creates new footholds for the Russia’s financial system

Mikhail Ershov, Principal Director on Financial Studies, Head of the Financial Analysis Department of the Institute for Energy and Finance, commented to the TASS news agency on the yuan prospects in international settlements.

“The yuan has good opportunities to push the dollar, given the potential of the Chinese economy. At the same time, it is desirable to build such relations on the basis of some parity, where settlements in yuan will also be accompanied by settlements in rubles. Moreover, the leaders of our countries have also repeatedly set this task. In general, moving away from the dollar and other toxic currencies creates new points of support for the monetary and financial system," Mikhail Ershov says.