China cheers Russia’s move away from US dollar in favor of yuan | WHAT REALLY HAPPENED

China cheers Russia’s move away from US dollar in favor of yuan

Beijing has welcomed Russia’s decision to cut the US currency from its National Wealth Fund and give the yuan a bigger role, China’s Foreign Ministry has announced.

Last week, Russia fully eliminated the US dollar from its National Wealth Fund, reducing its share from 35% to zero. Meanwhile, it raised the amount of Chinese yuan in the fund to 30.4%, which put it in second place after the euro with 39.7%.

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