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Terence Zimwara

China CIPS Settlements Reach $214B in March 2026 as Russia and Iran Cut Dollar Use

In March 2026, China's Cross-border Interbank Payment System (CIPS) processed about $214 billion (1.46 trillion yuan) in settlements, as Russia and Iran increased reliance on the yuan amid deeper sanctions pressure. Reports also say Iran is seeking yuan or cryptocurrency payments tied to Strait of Hormuz transits, while sanctioned entities received $154 billion in crypto in 2025.
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