The share of the dollar in payments for the export of Russian oil has plummeted to a record low of 5%. Just a few years ago, in 2022, the US currency accounted for 55% of all payments, which indicates a radical change in the financial architecture of Russian energy exports.
National currencies have replaced Western currencies. Currently, about 90% of all contracts for the supply of oil from Russia are paid for in Russian rubles and the currencies of friendly countries.
The undisputed leader in this new system is the Chinese yuan, which now accounts for 67% – that is, two-thirds – of all payments.
Parallel to the dollar, the euro has also lost its position: its share in payments over the past three years has decreased from 30% to a minimum of 1%.
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