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Yuan payments soar as currency of last resort for Iran, Russia
China's answer to SWIFT network sees rapid growth in transactions
TL;DRAI
Yuan payments have soared for U.S.-sanctioned Iran and Russia, now using China's currency to sustain dollar-free trade in crude oil and goods. The shift signals accelerating de-dollarization, with China's SWIFT-alternative network gaining real volume across sanctioned trade corridors.
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