Russia and China may execute up to a half of their trade in yuans and roubles in case China lifts restrictions on currency operations for Russian contractors, Russian Deputy Finance Minister Alexei Moiseyev told ITAR-TASS on Tuesday after the first session of the Russia-Chinese investment cooperation commission. The use of yuans in settlements is hampered by restricted access to the market of “domestic” yuans, which can be used only in short-term trade operations. Due to these restrictions Russian banks cannot hold yuans earned from exporters for longer periods. In 2006, Russia lifted all restrictions on capital movements, thus making its rouble a convertible currency.

[...]