De-Dollarization Du Jour: Russia’s Largest Bank Issues Yuan-Denominated Guarantees

Sunday, June 7, 2015
By Paul Martin

by Tyler Durden
ZeroHedge.com
06/07/2015

In yet another sign that Russia and China are set to work together to extricate themselves from a dependence on the dollar specifically and on Western financial institutions more generally, Russia’s largest bank has, for the first time, extended yuan-denominated letters of credit in concert with the Chinese Export-Import bank.

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