Russia has transferred almost 90% of its trade to national currencies and other alternatives to the dollar. This was stated by Foreign Minister Sergey Lavrov at a meeting with students and faculty of MGIMO.
We have already transferred almost 90% of all our trade either to national currencies or reliable dollar substitutes – this includes the yuan and the currency of the United Arab Emirates.
According to the minister, the dollar formally retains its status as the main world reserve currency, but businesses are getting more and more options for settlements without it. As a result, foreign trade is gradually shifting to the ruble, yuan, dirham, and alternative financial infrastructure.
At the same time, digital instruments directly linked to the Russian currency are developing. The capitalization of the A7A5 stablecoin, backed by the ruble at a 1:1 ratio, reached $577 million by the end of June. By this indicator, it became the largest non-dollar stablecoin in the world.
By December 2025, A7 accounted for almost 19% of all transactions of Russian companies with other countries, the Financial Times reported earlier.
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