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The share of the Russian ruble in payments for Russian exports surpassed 50% for the first time earlier this year, according to central bank data.
In May, the ruble accounted for 52.4% of export settlements, up slightly from April's 52%, as Moscow accelerated its shift away from Western currencies under sanctions pressure. Both months marked the first time the ruble has exceeded 50% across all major trade regions.
Tatiana Belyanchikova, a finance professor at Plekhanov Russian University of Economics commented:"Notably, the rise in ruble payments coincides with a decline in the use of currencies from so-called 'friendly' countries. Trading partners - aside from those using major global currencies such as the US dollar or euro - increasingly prefer rubles to avoid conversion costs and secure better terms."Oceania led with 94.2% of export payments in rubles, followed by the Caribbean (92.1%) and Africa (84.6%). Europe and North America reached 59.8% and 51.9%, respectively.
The ruble's dominance and a shift towards national currencies is even more pronounced in trade with neighboring states and key partners. Nearly 90% of settlements with nearby countries were conducted in national currencies by the end of May, while ruble-yuan trade with China hit 95% in late 2024, according to central bank figures.
Analysts say the data underscores Moscow's accelerating de-dollarization drive as sanctions reshape global financial flows, with strategic partners increasingly adopting the ruble to bypass restrictions.
Comment: Disengaging, from international policing, rescue, military response and non-US financial obligations, is the point. The US must address today's issues, solve its own problems, recalibrate its trajectory and above all - support and bring together the American people. If so, it would be the silver lining for Trump's thunder. If not, he deserves the critique.