NEW DELHI — Bangladesh has approved a payment of $318 million to a Russian nuclear power developer using the Chinese yuan, according to a Bangladeshi official, offering the latest instance of countries bypassing the U.S. dollar and using the Chinese currency to conduct international payments.
The majority of cross-border trade is denominated in dollars and flows through the U.S. banking system, which gives the United States the unique ability to sanction and freeze the assets of rival governments, such as Russia, Iran and Taliban-led Afghanistan. But critics of the sanctions accuse the U.S. government of “weaponizing” the greenback and undermining its global status.
Mezbaul Haque, the spokesman of the central bank of Bangladesh, declined to confirm or deny the decision to pay Russia in yuan.
Could it be that all other currencies are the US dollar hidden in plain sight?
The dollar wasn’t bypassed unless they were paying for that amount in oil is my understanding of the situation. When we make villainous statements about our Nations earthly neighbors we ought to be more concerned with the validity of the villainy.
The USD will become less dominant for international trade and as a reserve currency.
Gotta call 9-yuan-yuan
Peanuts....
When is Bangladesh going to be destabilised 😂😂
Good have them pay Bangies bills ... worthless country anyway
Well done Bangladesh
DesertRatJT Russia becoming Chinas bitch
Using the Yuan to bypass sanctions is proof sanctions no longer are effective.
The list of countries abandoning the dollar is growing. Is there anyone in DC aware and planning counter measures? Anyone at treasury? Anyone? This will lead to some serious economic problems for the US. But hey, at least we'll use the right pronouns when we're in a depression.…
This 'move to not use the dollar' is based on bad faith actors wanting to move away from the risk of sanctions and flock together to get around sanctions and being blocked from SWIFT, since the Chinese will offer some structure to resemble that. China is heavily invested in US$
US sanctions are working just as we had hoped!
Three cheers for democrats. They're so crazy brilliant at diplomacy.
Bangladesh will be underwater very soon, so there’s that.
Maybe because the Russians are kinda currently excluded from the dollar economy?
And how much is that($318) in yuan?
NEVER GIVE THEM ANOTHER DIME IN ANY KIND OF AID
The greatest virtue signaling ever, Yuan...is pegged to the dollar, furthermore the Chinese devalue their currency. 🤡🤡
Russia can't take payment in USD because US will freeze them. So how else are gonna countries pay?
Good luck with that disaster waiting to happen. Russian company will not be able to finish the job.
China will own Russia soon.
Thank Biden...
Karmaker said that although the decision was made, the transaction is yet to be completed because payment details still need to be resolved. He declined further comment, citing the diplomatic sensitivity of the issue.
The dollar will be obsolete, thrown into the thrash of historical museums.
Makes sense
Another sign of Biden’s economic recovery. But look, something shiny over there ———
🤥 Yuan ... is pegged to USD
Bangladesh is about to learn the hard way , why almost no one settled payments with the Yuan in the past.
Good for them!
Russia doesn’t need America. Between China and India they have 2 billion ready made customers. Biden cut Americas nose off to spite its own face
Russia was banned on transaction in US dollar. Poor man!
Then it gets converted to $
'Romania and Ukraine two sad neighbours'
Yuan becomes the hard currency in Russia. Russia is becoming a junior partner of China, inevitably.
Good for them, until China manipulates the Yuan (and they will) for their own benefit. Nations will then run back to the rock solid dollar.
And you can thank Joe for f'in up the USD like everything that dysfunctional admin does. He burnt Saudi Arabia trying to buy oil when all he had to do was pump US oil.
So in return we find ways to bypass India.
Russia is gonna need an awful lot of yuan going forward. It going to be all yuan for them.