Bangladesh to Pay Russia $300 Million in Yuan for Power Plant
- Payment mechanism was finalized at a meeting last week
- Talks for alternative payment system for trade underway
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Bangladesh has agreed to pay Russia about $300 million in yuan currency to settle payment for building a nuclear power plant near the capital city Dhaka, according to two officials familiar with the matter.
The payment mechanism was finalized at a meeting last week, the officials said, declining to be identified citing rules. Russia initially refused to accept the payment in yuan on concerns of potential currency conversion losses and insisted on payments in ruble, the people said.