Russian President Vladimir Putin underscored the progress of economic integration and dedollarisation efforts between Russia and China at the Shanghai Cooperation Organisation (SCO) summit.

Putin emphasised that over 80% of commercial transactions between Russia and China are now conducted in rubles and yuan, reflecting a strategic shift away from the U.S. dollar.

This move aligns with broader SCO initiatives to enhance economic cooperation and reduce dependency on Western financial systems.

Putin's remarks highlight Russia's proactive role in promoting the use of national currencies within the SCO framework, aimed at bolstering regional financial independence and stability.