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China, Russia seek to curb use of US dollar in Eurasian trade bloc deals to minimise risks

Summary:
[unable to retrieve full-text content]By creating its own monetary and financial system, an economic and trade bloc backed by Russia is looking to reduce its reliance on the US dollar and euro for internal trading and in deals with China.The Eurasian Economic Union (EAEU), a counterpart to the European Union, has five member states – Armenia, Belarus, Kazakhstan, Kyrgyzstan and Russia – and ensures the free flow of goods and economic cooperation among them, but it does not have a single currency like the 19 of the 27 EU states do…

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[unable to retrieve full-text content]
By creating its own monetary and financial system, an economic and trade bloc backed by Russia is looking to reduce its reliance on the US dollar and euro for internal trading and in deals with China.The Eurasian Economic Union (EAEU), a counterpart to the European Union, has five member states – Armenia, Belarus, Kazakhstan, Kyrgyzstan and Russia – and ensures the free flow of goods and economic cooperation among them, but it does not have a single currency like the 19 of the 27 EU states do…

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