Ruble’s Share in Export Payments Top 30% in 2022: Central Bank

A Russian ruble coin is pictured in front of the Kremlin in in central Moscow, on November 6, 2014InternationalIndiaAfricaMOSCOW (Sputnik) – The share of the ruble in payments for export deliveries at the end of 2022 exceeded 30%, equaling the share of the US dollar and significantly exceeding the share of the euro, the Central Bank of Russia said on Tuesday. “After the transfer of payment for natural gas supplies to unfriendly countries into rubles in May 2022, the share of the national currency in export deliveries increased significantly (exceeding 30% at the end of the year), equaling the share of the US dollar and significantly exceeding the share of the euro,” the regulator said in a statement. At the same time, by the end of 2022, the total share of the US dollar and the euro in settlements for both export and import deliveries was a little less than 50%, which generally corresponds to the current country structure of Russia’s foreign trade. But it may also indicate that settlement risks and risks of blocking assets by unfriendly countries remain for Russian companies and their counterparties, the statement read.AnalysisHow Decision to Use Rubles in Russo-Turkish Gas Settlements Benefits Ankara and Moscow19 September 2022, 19:24 GMTRussia has been seeking to eradicate the US dollar from its foreign trade relations since the 2014 wave of sanctions over Crimea. Talks have been on with Iran, Turkey and China, as well as some African and Latina American countries. Moscow intensified its efforts on the issue after the West imposed new sanctions on the country over its special operation in Ukraine.


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