In another case of de-dollarization, Bangladesh settled a loan from Russia in Chinese yuan.
According to a new report from the Bloomberg, the Bangladesh government paid a $318 million Russian loan in Chinese yuan to avoid U.S. sanctions.
Because of the Western-led sanctions imposed on Russia, it had been almost impossible for Bangladesh to make a dollar-denominated payment to Moscow.
Reportedly, Russia wanted payment in rubles, but it eventually accepted in yuan.
Indeed, U.S. sanctions are fueling the de-dollarization push.
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