A report from the Bank of Russia's research department indicates that it will be difficult to abandon the use of the U.S. dollar for foreign trade settlements due to the structure of trading contracts. Even exporters from countries friendly to Russia prefer to be paid in U.S. dollars and euros, increasing the demand for these currencies. The report suggests that import substitution actions could lead to lower demand for unfriendly foreign currency in the mid-to-long-term. Russia has been seeking alternatives to its current trading woes, partnering with China to rely on the Chinese yuan to settle part of its payments in Chinese currency. (Bitcoin.com)