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Bangladesh has approved a payment of $318 million to a Russian nuclear power developer using the Chinese yuan, said a report citing a Bangladeshi official.
Bangladesh will settle its pending payments to Russia in Chinese yuan instead of dollar. Dhaka will settle repayments worth $110 million to Moscow for the currently under construction Rooppur power plant in the Chinese currency, it was revealed.
The development came amid increasing de-dollarisation efforts by the developing nations and calls by BRICS [Brazil, Russia, India, China and South Africa] nation members for a common BRICS currency.
After the West imposed sanctions on Russia, Bangladesh was looking out for ways to settle $110 million for the Rooppur power plant which is under construction in the South Asian country
Bangladesh is to make its payments to Russia for the Rooppur nuclear power plant construction in Chinese yuan as a result of sanctions stopping payments in US dollars.