They’re not avoiding USD because they want to. They are avoiding because they don’t have a choice.
The value of using USD is its consistency (compared to nearly all other world currencies). China regularly manipulates its currency and sovereign economic indicators. If Russia is holding lots of Yuan China has a huge amount of control over the fragile Russian economy. If China is holding lots of Rubles China has even MORE control.
Russia would far more prefer to settle in EUR, USD, or GBP, except they don’t have those as choices.
They’re not avoiding USD because they want to. They are avoiding because they don’t have a choice.
The value of using USD is its consistency (compared to nearly all other world currencies). China regularly manipulates its currency and sovereign economic indicators. If Russia is holding lots of Yuan China has a huge amount of control over the fragile Russian economy. If China is holding lots of Rubles China has even MORE control.
Russia would far more prefer to settle in EUR, USD, or GBP, except they don’t have those as choices.