President Vladimir Putin has detailed a significant financial break from the West, centered on the emergence of a “Ruble-Yuan Axis.” He confirmed that bilateral trade between Russia and China is now almost exclusively settled in their national currencies, marking a pivotal moment in their quest for economic sovereignty.
This move is a practical step in building an alternative to the dollar-dominated global financial system. By bypassing the dollar, both countries reduce their vulnerability to US sanctions and the weaponization of finance, a major concern for Washington that Putin openly acknowledged.
The scale of this shift is massive, covering a trade relationship that has swelled by about $100 billion since 2021. This creates a substantial, self-contained financial ecosystem that strengthens the international standing of both the ruble and the yuan.
Putin’s statements ahead of the SCO summit serve as a declaration of independence from the Western financial architecture. He is showcasing the Ruble-Yuan Axis as a successful, functioning model for other nations to follow as they seek to chart a course free from dollar hegemony.
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