Bangladesh to Ditch Dollar over Anti-Russia Sanctions
TEHRAN (Tasnim) – Nikkei Asia Magazine in its latest report on Tuesday said Bangladesh is going to repay a loan for its power plant, which is under construction by the Russian Federation, in Chinese Yuan in order to bypass the Western sanctions.
The decision of Bangladesh came following last week’s negotiations between senior officials of the two countries, according to which, it was agreed to pay the statements in China Yuan.
Bangladesh owes the equivalent of $10 million to Russia for the installations at the power plant.
“We could not do payments to US dollar due to the sanctions imposed against the Russian banks,” a senior official at Bangladesh Ministry of Finance said.
The official went on to say that Russia requested to settle the payments in its unit of currency i.e. ruble but it was impossible, so, it was decided to select the Chinese Yuan instead.
