Russian President Putin emphasized in a statement on Thursday (December 19) that he is ready to engage in direct dialogue with US President elect Donald Trump at any time and has agreed to meet with him when the US is ready. He stated that currently over 90% of trade between China and Russia bypasses the US dollar and is settled in their own currencies.

According to the well-known financial blog ZeroHedge, when asked about the possibility of meeting with Trump in the future, Putin told American journalists, "Of course, I am always ready for this conversation, and if he (Trump) is willing, I am also willing to hold a meeting. First of all, I don't know when we will meet with him. Because he hasn't mentioned anything about it. I haven't talked to him for over four years

(Source: Twitter)

He added that he acknowledges the unpredictable intentions of the US side.

Putin stated that currently over 90% of trade between Russia and China is settled in their own currencies (mainly rubles and Chinese yuan), and over 50% of trade between Russia and India completely bypasses the US dollar.

(Source: MSN)

In 2022, when the conflict broke out between Russia and Ukraine, Western countries implemented sanctions targeting almost every aspect of the Russian economy, including preventing its use of global payment systems such as SWIFT. Faced with the financial blockade, Moscow has actively promoted trade in local currency and sought alternative economic avenues from allies such as China and India.

In the past two years, the trade volume between Russia and China has surged, and both countries tend to establish a so-called 'strategic partnership'. By 2023, the bilateral trade volume between the two countries is expected to reach a record high of $240 billion, and economists predict that this number will continue to rise by the end of 2024.

The current difference is that the majority (over 90%) of these trades are conducted in rubles and Chinese yuan. Numbers don't lie. By 2022, the share of Chinese yuan in Russia's exports to China will soar from 0.5% to an astonishing 16%.

The same situation has also been observed in imports, with the usage rate of RMB rising from 4% in 2021 to 23% one year later. Meanwhile, the dominance of the US dollar is rapidly diminishing.

In 2021, nearly half (46.8%) of Russia China trade was conducted in US dollars. By the end of 2023, as the Chinese yuan replaces the US dollar as the preferred currency, this number will significantly decrease. Even Russian banks are holding a large amount of Chinese yuan. As of December 2023, the value of Chinese yuan held by Russian banks was $68.7 billion, surpassing US dollar reserves, which have dropped to $64.7 billion.

Russia is still pessimistic about the possibility of achieving peace in the Russia-Ukraine conflict in the near future, especially considering that Western long-range missiles are being used against Russian territory. According to TASS, Russian Foreign Ministry spokesperson Maria Zakharova stated that Moscow is ready to engage with the United States to resolve the Ukraine crisis, but has not yet received any serious proposals from the Trump team.

According to the diplomat, the Russian Ministry of Foreign Affairs has recently received many questions about whether Russia is prepared to engage with Trump and his team. Mike Waltz, the national security advisor selected by Trump, explained to CBS News earlier this week, "What kind of success is in our interest? How can we end the war? Who will participate in the negotiations? How can we push all parties to participate in the negotiations? What is the framework of the agreement? These are all issues that we and his team are considering

He also stated that the escalation policy currently adopted by the Biden administration of the current US President has no end in sight, which is the root cause of the disaster and may turn the conflict into another 'eternal war'. He said, 'Empty promises... are not a strategy at all.'.