Skip to content
Finance — Industry

Over half of Russia's export earnings derive from the Ruble currency.

Russian exports predominantly settled in rubles for the first time in April, surpassing 50%, while the utilization of hostile currencies plunged to an all-time low, as per statistics from the Russian Central Bank, as detailed by RIA Novosti.

,   and  Administrator
2 min read
Russian currency, the ruble, surpassed 50% for the first time in export calculations, while the...
Russian currency, the ruble, surpassed 50% for the first time in export calculations, while the leverage of adversarial currencies reached a record low, as per data from the Bank of Russia, as reported by RIA Novosti in April.

Over half of Russia's export earnings derive from the Ruble currency.

Going Green with the Ruble: A Boom in Russian Exports Settlements

Ruble transactions for Russian export dealings have hit an all-time high, soaring to 52.3% in April 2025, according to Bank of Russia data reported by RIA "Novosti". This notable increase has resulted in a significant drop in payments utilizing foreign currencies.

By region, the increase in ruble settlements is prominent. In Africa, ruble transactions skyrocketed by 37.7%, reaching 98.3%, and in the Americas, they escalated by 33.7% to 55.6%. Notably, countries within Oceania and Asia also exhibited substantial growth, with ruble settlements in Oceania reaching 91.1% and Asia, 48.9%. Europe, the Caribbean Basin, and even some Asian countries experienced a proportionate rise in ruble settlements.

In contrast, payments in unfriendly currencies plunged, reaching a record low of 14.1%, representing a decrease from 19.3% the previous year. While the lowest levels were observed in the Americas, Asia, and Africa, it's essential to note that these percentages are the lowest in modern history for each region.

The Ruble's Rise: A Historical Perspective

The surge in ruble transactions is part of a broader initiative to distance Russia from Western currencies in light of economic de-dollarization efforts. In the past, the U.S. dollar featured prominently in Russian trade settlements. Post-sanctions, the drive to eliminate dependence on Western currencies led to a rapid expansion in the usage of the ruble for both exports and imports.

Regional Trends

  • Global Exports: The share of global transactions conducted in rubles has steadily risen, reaching a record 52.3% in 2025[1].
  • Eurasian Economic Union (EAEU): Relying heavily on its own currencies, the EAEU reported more than 91% of mutual settlements in 2024, with the ruble being the dominant currency at 88.1%[5].
  • Asian Imports: The ruble has gained substantial ground in Asian trade dynamics, accounting for 51.9% of all transactions in 2025[4].

Breakdown of Regional Trends

| Region/Variation | Share of Ruble in Settlements | Trend ||------------------|-------------------------------|-------|| Global Exports | 52.3% (April 2025) | Increasing[1] || EAEU | 88.1% (2024) | Increasing[5] || Asian Imports | 51.9% (2025) | Increasing[4] |

Looking Ahead

It is expected that the ruble will remain the primary currency for Russian exports, particularly within the EAEU and Asian markets. However, the rise of the Chinese yuan in certain transactions may play a significant role in the future dynamics of the Russian economy[5].

  1. As the ruble becomes increasingly dominant in Russian export dealings, the finance industry may see a shift away from traditional reliance on foreign currencies, considering the surge in ruble settlements across regions like Africa, Asia, and the Eurasian Economic Union.
  2. With the rise of the ruble in both global exports and Asian imports, the industry could witness a significant increase in finance-related activities involving the ruble, potentially leading to growth across various sectors and strengthening the Russian economy.

Read also:

    Related

    Latest