First steps towards breaking dollar dominance taken by Russia and China

Today, Russia and China have signed an agreement to trade in local currency with regard to a gas deal worth over 450 billion dollars in the next thirty years. The countries have over US$ 100 billion trade with each other every year. If other BRICS countries too join with Russia and China in such deals, the primacy and use of Dollar as the trade and reserve  currency could get a significant threat.

Medaram Jathara

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