Russia’s commitment to renminbi funding plans is still MIA

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By Paolo Danese
06 Sep 2018

China has made little headway in persuading the Russian government and Russian institutions into using the renminbi, as the fate of a sovereign bond in the currency remains uncertain and trading of RMB products stalls. But market participants are not giving up just yet, with a new trading platform set to launch next year, writes Paolo Danese.

China has managed to line up Russian government endorsement for many of its key projects in recent years, including the Belt and Road Initiative (BRI) and the renminbi’s internationalisation. That is at least partly because Russia has an increasing need to turn east, as the list of allies in ...

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