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Yuan-Ruble Payment System ‘Can Counter US Hegemony’

A plan by Chinese and Russian officials to set up a payment system to boost the use of their own currencies in bilateral and international trade is imperative, Chinese experts said on Sunday, to counter what they called the US dollar's hegemony in the global payment system.

Dollar Out, Yuan in: Iran Changes Benchmark Currencies

Iran has removed the US Dollar from its official currency rate reporting platform and replaced it with China’s Yuan in an effort that the media in Tehran say could be a key step toward ditching the greenback in trade.

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