Russia and Vietnam shifting away from the dollar in trade : Analysis

According to Olga Basha, VTB’s head of international settlements, trade settlements in national currencies between Russia and Vietnam have quadrupled. She stated that settlements conducted in Russian ruble and Vietnamese dong have seen significant growth. Basha also mentioned that VTB is a market maker for the ruble-dong pair in Vietnam. She highlighted the exponential growth of transactions settled in national currencies passing through VTB’s infrastructure within its subsidiaries and branches abroad.

The information provided in the article seems credible, as it includes a direct quote from a VTB bank executive. However, since the article is from RT, a Russian government-funded outlet, it is important to consider potential biases. RT has been accused of promoting pro-Russian narratives and spreading disinformation in the past. As such, it is necessary to approach their reporting with caution and seek information from a variety of sources.

The overall impact of the article is relatively limited, as it simply reports on an increase in trade settlements between Russia and Vietnam conducted in national currencies. It does not provide any analysis or context regarding the implications of this trend.

In terms of reliability, the article does not provide any concrete data or statistics to support the claim of quadrupled trade settlements. It simply relies on the statement from the VTB executive. Without further evidence, it is difficult to assess the accuracy of the information.

Considering the political landscape and prevalence of fake news, it is important for the public to critically evaluate the sources of information they encounter. In this case, readers should consider the potential biases of RT as a government-funded outlet and look for additional sources to corroborate the information. It is crucial to seek a nuanced understanding of complex issues and not rely solely on one source for information.

Source: RT news: Russia and Vietnam ditching dollar in trade – banking major