Russia-China “Dedollarization” Reaches “Breakthrough Moment” As Countries Ditch Greenback For Bilateral Trade

“Late last year, data released by the PBOC and the Russian Central Bank shone a light on a disturbing – at least, for the US – trend: As the Trump Administration ratcheted up sanctions pressure on Russia and China, both countries and their central banks have substantially “diversified” their foreign-currency reserves, dumping dollars and buying up gold and each other’s currencies.”

https://www.zerohedge.com/economics/russia-china-dedollarization-reaches-breakthrough-moment-countries-ditch-greenback