Bangladesh to pay Russia $300 million in Chinese yuan for a nuclear plant loan

• Bangladesh will pay Russia $318 million worth of yuan for a loan payment on a nuclear power plant.
• Western sanctions on Moscow prevented Bangladesh from paying in US dollars.
• The decision to use the yuan is the latest example of de-dollarization.

Bangladesh has agreed to pay Russia about $318 million worth of Chinese yuan for a loan payment on a nuclear power plant.

Western sanctions imposed on Moscow last year for its war on Ukraine prevented Bangladesh from paying in US dollars, which is the predominant currency for cross-border transactions.