Russia, China dump the dollar as Moscow announces new trade corridors

Responsible Statecraft— Russia announced this week that its bilateral trade with China has almost completely moved away from using the U.S. dollar, highlighting the two countries’ commitment to reducing their reliance on the U.S.-led economic system.Aside from reducing dependency on the Western-dominated global currency, these ‘de-dollarization’ efforts allow Russia and China to avoid the myriad sanctions now preventing Moscow from doing business on the international market. Western sanctions have helped lead to a boom...

América Economía—Ecuador and China formalize trade agreement with announcement of import fair. The participation of phytosanitary authorities is proposed to better understand options so that products that are already considered can enter the Asian giant.

uawire.org—Turkey and China scale back trade with Russia amid sanction fears. Turkey and China, major trading partners of Moscow, have unexpectedly reduced their goods shipments to Russia due to fears of secondary sanctions from Washington, The Moscow Times reports, citing economic analysts. Analysts believe the recent export boom has been deflating not only because of the threat of sanctions but also due to complications in money transactions. The Financial Times and Bloomberg also report a worsening situation for Russia. For China, the Russian market remains secondary...

The Washington Times—Biden signs new infrastructure security memo, amid growing threats from China and Russia. President Biden on Tuesday signed a national security memorandum laying out an updated, government-wide plan to protect critical American infrastructure in the face of growing cyberthreats posed by China, Russia and other U.S. adversaries.