Russia is nearing a full transition to trade settlements with India and China in national currencies, with 90-95% of transactions now conducted in roubles, yuan, or rupees, a shift accelerating due to Western sanctions limiting Russia’s access to dollar-based financial networks. Deputy Prime Minister Alexander Novak confirmed in mid-October 2025 that this transition happened organically, driven by market needs and restrictions on dollar settlements, rather than as a deliberate political move. The switch strengthens economic resilience by bypassing vulnerable foreign banking systems and supports uninterrupted trade, especially in energy sectors where Russian crude to India is often paid in rupees and Chinese gas and coal trades are denominated in yuan and roubles. This strategic pivot toward Asia not only underpins de-dollarisation but also highlights India’s crucial role in fostering bilateral trade amid geopolitical tensions. The currency realignment reflects a broader global shift toward multipolar trade mechanisms that challenge US dollar dominance and reshape global economic architecture. Key dates include late 2024 data showing increased local currency trade and confirmations in October 2025 of near-complete national currency usage for Russia-India-China trade.