Yuan Usage Soars in Argentina: Over 500 Companies Request to Pay for Imports in Chinese Currency, Report

Over 500 companies in Argentina have reportedly requested to pay for imports using Chinese yuan as the U.S. dollar shortage worsens. “The central bank doesn’t have dollars so it needs the emergency aid China is offering,” a trade economist in Buenos Aires explained. Chinese Yuan Usage Hits Record High in Argentina The Argentine customs agency

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Argentina Settled Almost 20% of Its Imports in April and May Using the Chinese Yuan

The government of Argentina has noted that 19% of all imports authorized in the national system were settled using the Chinese yuan in April and May. $2.72 billion in Chinese yuan were approved to complete these payments, taking advantage of the Chinese swap line to preserve the dollar reserves of the country, according to Commerce [...]

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Russia Negotiating Free Trade Deal With India to Facilitate Imports in the Face of Sanctions

Russia is in the process of negotiating a free trade deal with India in order to substitute part of the products and investments that were banned by sanctions enacted after the Ukrainian conflict erupted. Russia is now the largest oil supplier of India, with the country taking advantage of the discounted Russian crude. Russia and

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Brazils crypto imports surged 40% in September 

Brazil continues to see an increase in crypto activity as digital asset imports reach $1.4 billion in September.

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Iran Sets Up Platform to Facilitate Crypto Payments for Imports

Authorities in Iran are taking steps to make crypto payments easier for companies importing goods in the sanctioned country. A dedicated platform has been established to allow local businesses to transfer cryptocurrency for the purpose of cross-border settlements. Iran to Use Cryptocurrencies for Imports, Trade Organization Chief Vows Iranian companies will be able pay for [...]

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