A Chinese businessman with long-term ties with Russia, who also did not want to be identified, said
several Russian companies he works with are now planning to open yuan accounts.
"It's pretty simple logic. If you cannot use U.S. dollars, or euros, and U.S. and Europe stop selling you many products, you have
no other options but to turn to China. The trend is inevitable," the source told Reuters
FESCO Transportation Group , a major Russian transport and logistics company, said this week it will
accept Chinese yuan from customers, after some Russian banks were kicked out of the global financial messaging system SWIFT.
"It's natural for Russian companies to be willing to accept yuan," said Shen Muhui, head of a trade body that promotes links between Russia and China.
Companies will be switching to yuan-rouble business but in any case things will become two, three or four times more expensive for Russians because the exchange rate between the yuan and rouble is also changing," said Konstantin Popov, a Russian entrepreneur in Shanghai.