Trade and infrastructure will drive Russian RMB market
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Asia

Trade and infrastructure will drive Russian RMB market

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Russia and its companies are looking east, as conflicts and sanctions sour relationships with the West. The result could be a big boost for China's drive to internationalise the renminbi, as Russia looks to reduce its dependence on the dollar and China seeks the long term goal of establishing a rival global reserve currency. Trade and infrastructure finance will be hot areas, and could be boosted with the emergence of a new China-led development bank.

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