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International relations

Bangladesh finds way to pay Russia for nuclear plant: with yuan

Using China's currency to skirt bank restrictions could irk Western partners

The Rooppur Nuclear Power Plant, Bangladesh's first such facility, is seen under construction west of Dhaka in February.    © Reuters

DHAKA -- Bangladesh appears to have found a workaround for stalled payments it owes Russia for a nuclear power plant: settling them in Chinese yuan.

With U.S. and European sanctions barring Russia from much of the international banking system, Dhaka has been scrambling for ways to settle repayments worth $110 million for the still under construction Rooppur power plant. But last week, a high-level delegation from Russia and Bangladesh's Ministry of Finance agreed that the bills could be paid in yuan.

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