The proportion of Russian ruble payments reached a record in June, as Moscow continued to shift away from Western currencies in the context of the embargo.
According to data from the Russian Central Bank, in June, rubles accounted for 55.5% of Russia's total global export payments, up from 52.4% in May. This is the third consecutive time that the ruble has surpassed the 50% mark in all major trade regions, after the first mark reached in April.
Russia and many trade partners have stepped up their dependence on the Western financial system since 2022, as a series of major Russian banks were excluded from the international payment system SWIFT after the Ukraine conflict escalated. Businesses from other countries are increasingly looking to alternative payment channels, prioritizing domestic currencies to reduce conversion costs and enjoy more favorable trading conditions.
According to the Russian Central Bank, the export turnover in June reached 33 billion USD, bringing the total turnover in the second quarter to 100 billion USD and the results of the first half of 2025 reached 196.1 billion USD. Economists say that in addition to the partner group still using the USD or euro, many countries have chosen to pay in rubles to avoid risks and increase stability.
By region, the Caribbean leads with 97.5% of export transactions paid in rubles in June. Africa saw a spectacular increase, from 12.9% in early 2024 to more than 85%. In the Atlantic, the rate is 83.1%. In Europe, ruble transactions account for 65%, while North America is 47.4% - the lowest among major regions.
Experts say the above figures clearly reflect Russia's rapid "de-dollarization" trend, as global financial flows are reshaped by sanctions, while Russia's strategic partners are increasingly leaning towards rubles as an option to avoid restrictions.
Earlier this month, the Russian government lifted the regulation forcing export enterprises to repatriate and sell foreign currency revenue, citing the consolidation of liquidity and the strength of the ruble.
