Russia and China will expand transactions in national currencies to reduce dependence on foreign market, Russian President Vladimir Putin said on Saturday. “To reduce dependence on foreign market, we are expanding the use of national currencies in mutual transactions,” Putin said after Russia-China talks.

The Russian leader added that Russian ruble took a 3-percent share of such transactions, while Chinese yuan’s share was 9 percent. Russia and China agreed on Saturday to develop cooperation on nuclear energy projects in third countries, Vladimir Putin said. READ MORE