Page 100 - RusRPTJul23

7.1 FX issues
System," she said.
Russians' demand for cash grew by 30% on average in 15 regions and 70–80% in the southern regions on June 24 after Wagner took Rostov, but an emergency was avoided and the situation has stabilised, First Deputy Prime Minister Andrei Belousov said on Monday at a meeting with Prime Minister Mikhail Mishustin. "
Russia's petrochemical giant Sibur has entirely switched to settling trade with China to the Chinese yuan, the Vietnamese dong for settlements with Vietnam, and the Turkish lira for settlements with Turkey in 2022, the director of the company's basic polymers department Pavel Lyakhovich told PRIME on May 31.
He also said that Sibur is open to expanding its currency basket to other exotic foreign currencies for trade settlements.
Lyakhovich shared that Sibur has opened new markets after relations with the West were closed including Bangladesh, Myanmar, Indonesia, and Malaysia. However, there are still uncertainties regarding logistical costs in these regions.
100 RUSSIA Country Report July 2023 www.intellinews.com