Putin: Russia, China favor use of natl currencies in settlements

VLADIVOSTOK, Sep 11 (PRIME) -- Russia and China favor the use of national currencies in settlements amid continuing risks in the global economy, President Vladimir Putin said Tuesday after talks with Chinese President Xi Jinping.

“Interest in a more active use of national currencies in mutual settlements has been confirmed both by the Russian and Chinese sides. This will raise stability of banking services of export-import operations in conditions of continuing risks on global markets,” Putin said.

In January–June, trade between the countries rose around 33% to U.S. $50 billion.

“In this regard, there are all grounds to assume that by the end of the year we will reach a record high volume of trade of $100 billion,” Putin said.

He also said that Russia and China are expanding cooperation in the agricultural sector. In January–June, Russia’s grain exports to China reached 656,000 tonnes, which is higher than exports for the entire 2017, he said.

“Talks on increasing the number of Russian regions that can supply wheat to China, as well as simplification of terms of mutual meat and milk supplies, continue,” Putin said.

Russia and China are also developing energy cooperation, including in the sphere of peaceful use of nuclear power, Putin said.

“Energy is an important sphere of cooperation. Last year, only under intergovernmental agreements Russia supplied 30 million tonnes of oil to China, and taking into account commercial shipments, this figure exceeded 50 million tonnes. Construction of the Sila Sibiri gas pipeline is being held on schedule, its launch is slated for the end of 2019. Main terms of gas supplies from the Far East have been agreed on,” Putin said.

“The Russian–Chinese cooperation in the sphere of peaceful atom is developing. The first stage of the Tianwan nuclear plant is already in operation. This year, the third unit has been accepted, the fourth unit is being prepared for delivery. Construction of two more units at this plant by (Russian nuclear power corporation) Rosatom is planned,” he said.

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