Russian oligarch Oleg Deripaska slams his country's 'primitive' financial system, says it is 'bondage and usury based on state banks'
The Chinese yuan, in particular, has been gaining traction as the Chinese currency overtook the greenback as the most traded currency in Russia for the very first time, according to transaction data published on April 3. The trend continued in March, with the yuan pulling ahead of the dollar by an even wider margin. The Chinese currency's trade volume in Russia was"negligible" before the war.
Just last month, Russian President Vladimir Putin told Chinese President Xi Jinping that Russia was ready to switch to using the yuan for foreign trade settlements, At the Krasnoyarsk Economic Forum in Siberia last month, Deripaska called on the Russian government to stop interfering in businesses and to focus on attracting foreign investors back to the country,reported. At the time, he warned the country's funds were running low and"there will be no money next year.
In June 2022, he told reporters in Moscow he was"troubled" that Russia was abandoning economic progress with its war against Ukraine, per
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