Russia mulls using yuan & euro instead of US dollar for external loans in 2020

100-yuan banknotes Reuters Jason Lee

Further turning away from the greenback, Russia is eyeing the yuan and the euro as currencies for Eurobonds next year, Russian Finance Minister Anton Siluanov has said on the sidelines of an IMF and World Bank meeting.

Answering journalists’ questions about the impact of US sanctions on the Russian sovereign debt market, Siluanov said that Moscow will consider the issue as it has been creating the infrastructure to use the Chinese currency for loans in recent years. “We can also try to go into euro,” he added.

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