Heresy Financial: Russia to Start Buying More Yuan in 2023


Heresy Financial
Dec 26, 2022

During 2020, we saw decisions that put into motion a set of actions that looks like we will continue into 2023. As we are now seeing, Russia is likely to buy Yuan on the foreign exchange market in 2023, but it does not just stop with Russia and China as we are now seeing China, and Saudi Arabia in talks to deepen their relationship.

Now, some of this is nothing new. Take, for instance, the fact that the yuan currently accounts for 17% of Russia’s foreign exchange and gold reserves. But some of this is showing signs of new trends, beginning both financially speaking and geopolitical alliances.


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