Phil on Nostr: Around an hour in: Before Russian sanctions in 2022: 80% of Russian global trade was ...
Around an hour in:
Before Russian sanctions in 2022:
80% of Russian global trade was transacted in USD (50%) and EUR (30%).
It is now 35% in rubles, 35% Yuan and 13% USD/EUR.
More countries (especially non-G7) are cutting back on both dollar reserves and transacting in USD.
Before Russian sanctions in 2022:
80% of Russian global trade was transacted in USD (50%) and EUR (30%).
It is now 35% in rubles, 35% Yuan and 13% USD/EUR.
More countries (especially non-G7) are cutting back on both dollar reserves and transacting in USD.