He told RIA Novosti about this.
“At present, the sanctions imposed by the United States and other Western countries against Russia have caused certain obstacles in business cooperation between Russia and China.
The competent authorities of the two countries need to optimize coordination and interaction in order to solve all the difficulties associated with settlements in bilateral trade.
China will continue to increase settlements in national currencies in trade with Russia,” he said.
According to him, for these purposes, China is ready to make full use of the relevant financial infrastructure and financial institutions.
He also added that the share of the yuan in bilateral trade settlements between China and Russia increased from 3.1% in 2014 to 17.9% in 2021.
“The role of the national currency as a means of payment is gradually strengthening, reducing the currency risks of enterprises and saving exchange rate costs,” the ambassador emphasized.
Earlier it was reported that the trade turnover between Russia and China in the first seven months of 2022 increased by 29% compared to the same period last year.