Chinese Yuan Replaces US Dollar as Most Traded Currency in Russia: A Major Shift

The economic landscape between Russia and the rest of the world is undergoing a significant transformation. China's yuan has overtaken the US dollar as the most traded currency in Russia, a year after its invasion of Ukraine led to a raft of Western sanctions against Moscow. This marks a pivotal moment in global finance, reflecting Russia's increasing reliance on China and the diminishing influence of the US dollar within its borders.

Little over a year after the invasion of Ukraine, the Chinese yuan has replaced the US dollar as the most traded currency in Russia. This dramatic shift highlights the impact of sanctions and Russia's strategic pivot toward closer economic ties with China. The Moscow Exchange trading volume in Chinese yuan surpassed that of the U.S. dollar in 2025, the Kommersant daily reported on Tuesday, as Moscow pursues a de-dollarization strategy. This further solidifies the yuan's position as a key player in Russia's financial system.

JUST IN: 🇨🇳 Chinese Yuan replaces US dollar becoming the most traded currency in Russia. According to the latest data shared by Bloomberg, the Chinese yuan has become a dominant force in Russian trade. China’s yuan has become the “primary” foreign currency for Russia’s overseas economic activity, according to Russian central bank governor Elvira Nabiullina. This shift is not just a symbolic change; it has real-world implications for businesses, investors, and the broader global economy.

The rise of the Chinese Yuan in Russia underscores a broader trend of de-dollarization in some parts of the world. While the US dollar remains the dominant global reserve currency, the increasing prominence of the yuan signals a potential shift in the global balance of economic power. As Russia continues to navigate Western sanctions, its reliance on the Chinese yuan is likely to deepen, further cementing its position as the most traded currency in the nation.