Russian Companies Preparing for Life After the Dollar


(Financial Times / Worthy News)– Russian companies are preparing to switch contracts to renminbi and other Asian currencies amid fears that western sanctions may freeze them out of the US dollar market, according to two top bankers.

The chief executive of a Russian manufacturer that derives 70 per cent of its revenues from export in US dollars said his company had done the groundwork to move its contract settlements to different currencies in the event of further sanctions. “If something happens, we are ready to switch to other currencies, for example to the Chinese yuan or the Hong Kong dollar,” he said.

Source

 

7
people are currently praying.

Worthy News reports from a biblical worldview with a commitment to accuracy, transparency, and editorial independence. Learn more about About Worthy News, our Editorial Standards, AI Use Policy, Ownership of Worthy News, News Tips and Corrections, and Worthy News Staff.

💡 Did you know? One of the best ways you can support Worthy News is by simply leaving a comment and sharing this article.

📢 Social media algorithms push content further when there’s more engagement — so every 👍 like, 💬 comment, and 🔄 share helps more people discover the truth. 🙌

Discuss this article in our forums

Latest Worthy News

GOP Leaders Launch ‘Reconciliation 3.0’ After Secret Camp David Strategy Meeting
Hope Fades For Missing After Alcatraz Boat Disaster (Worthy News In-Depth) (VIDEO)
IDF Kills Hamas Terrorist Linked to Abduction of Israeli Commander’s Body
U.S. Launches Daytime Strike Wave Against Iranian Military Targets
U.S. Announces End To Military Operations In Iraq As Conflict In Iran Ramps Up
Senate Records: Jack Smith Team Bypassed Safeguards, Accessed Texts Involving 44 Members of Congress
Trump Administration Subpoenas New York Times Journalists Over Air Force One Report (Worthy News In-Depth)
Bangladesh Flood Death Toll Rises As More Than 1 Million Affected (Worthy News In-Depth)
Bulgaria Blocks EU Bid To Sanction Russian Orthodox Patriarch (Worthy News In-Depth)
Fair Use Notice:This site contains copyrighted material the use of which has not always been specifically authorized by the copyright owner. We are making such material available in our efforts to advance understanding of environmental, political, human rights, economic, democracy, scientific, and social justice issues, etc. We believe this constitutes a 'fair use' of any such copyrighted material as provided for in section 107 of the US Copyright Law. In accordance with Title 17 U.S.C. Section 107, the material on this site is distributed without profit to those who have expressed a prior interest in receiving the included information for research and educational purposes. For more information go to: http://www.law.cornell.edu/uscode/17/107.shtml. If you wish to use copyrighted material from this site for purposes of your own that go beyond 'fair use', you must obtain permission from the copyright owner.

Worthy Christian News