Russia doubles share of trade with BRICS countries to 40% over past two years

Addis Ababa, January 31, 2024 (FBC) – 85% of settlements with BRICS member states are already conducted in national currencies, said Elvira Nabiullina, Governor of the Bank of Russia, in an interview with RIA Novosti.

She also provided statistics on business settlements in yuan: the share of the Chinese currency in Russia’s exports has increased 86 times over two years to 34.5%, and in imports by more than 8 times to 36.4%.

Also, according to the official, Russia is discussing with other BRICS countries the interaction of national financial message transmission systems. 159 foreign participants from 20 countries have already connected to the Russian counterpart of SWIFT.