Russia’s Finance Ministry is engaged in discussions with Chinese counterparts regarding the potential acquisition of loans in yuan, as confirmed by Minister Anton Siluanov. While no final decision has been reached, ongoing negotiations have been in progress for some time, with the topic addressed in inter-ministerial dialogues at the end of the previous year.
Siluanov highlighted Russia’s readiness to initiate digital currency payment trials with China and other Eurasian Economic Union nations, intending to promote this concept among its partners.
Addressing the freezing of Russian central bank assets by the European Union and the Group of Seven nations (G7) in the aftermath of the Ukraine invasion in 2022, Siluanov revealed that Russia has reciprocated by freezing a corresponding amount of assets in response to Western decisions.
Providing insights into Russia’s fiscal status, Siluanov affirmed that the country’s budget remains under control. Revenues for the year slightly surpassed expectations, and spending has been curtailed compared to the previous year due to enhanced controls on advance payments and spending justifications.
