www.economica.net/rusia-a-esuat-in-eforturile-sale

Russia has abandoned efforts to replace the US dollar with the Chinese yuan for cross-border payments due to US secondary sanctions. Despite increased trade with China, the yuan's share in Russian exports has halved this year. Chinese banks are wary of US sanctions, complicating payment processes for Russian companies. The yuan had previously surged in use but has faced a rapid decline since mid-2024, leading to a currency crisis in Russia. Transactions are now often routed through payment agents, increasing costs significantly. The global share of the yuan has also dropped back to pre-war levels, indicating a setback in its internationalization efforts.