Russia and China are developing an agreement to expand the use of national currencies in bilateral and international trade, reports EHB.

The development of a new international payment system is aimed at countering the possible risks of US sanctions against national systems of states.

Russian Prime Minister Dmitry Medvedev said during a visit to China earlier this month that countries are discussing the details of creating a direct payment system for the yuan and rubles. He also added that negotiations are underway regarding the use of UnionPay credit cards in Russia and the Russian "Mir" card in China.

Creating a new financial infrastructure contributes to the continuing deterioration of relations between the two countries with the United States and the threat of Washington to apply new economic sanctions against states.

“Russia and China must protect their payment systems,” Medvedev said at the 22nd regular meeting of the two governments' heads. "From this point of view, such cooperation is very useful, because no one can block our mutual trade" - he said, noting that the trade turnover between China and Russia in 2020 will amount to 200 billion dollars, which is two times more than in 2014.

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