JRL NEWSWATCH: “Putin’s Bid to Ditch Dollar Picks Up as Exports Move to Euro” – Bloomberg
“… [Amidst] Putin’s multi-year push to reduce Russia’s exposure to the dollar … [Russian] exports sold in [dollars] fell below 50% for the first time[,] [m]ost of the [impact] … [coming] from Russia’s trade with China, more than three-quarters of which is now conducted in euros, according to central bank data …. Multiple rounds of sanctions and the constant threat of more … have pushed Russia to find ways to isolate its economy from [the] U.S. …. The central bank has … stripped back … holdings of Treasuries in its international reserves, loading up on gold and euros ….”