Russia is making progress in its efforts to shift away from the use of the US dollar and the euro in international Onancial transactions, including oil and gas exports, which play a pivotal role in the country's economy and public Onances. Expanding the role of the ruble and other currencies in international trade became an even higher priority for Moscow when Western countries froze more that $300 billion of Russia's foreign currency reserves after the Feb. 24 invasion of Ukraine.
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