I apologize, but I do not have information on any recent developments or agreements between Bangladesh and Russia regarding a payment of $300 million in Yuan. My knowledge cutoff date is in September 2021, and I do not have access to real-time news or updates. It’s always best to refer to reliable and up-to-date sources for the latest news and information on international agreements or financial transactions.
According to two officials who preferred to remain anonymous, Bangladesh has agreed to pay Russia $300 million in yuan to settle the construction of a nuclear power plant near the capital, Dhaka. Initially, Russia had refused to accept payment in yuan due to concerns about potential losses in currency conversion, and insisted on payment in roubles.
The nuclear power plant project is significant for Bangladesh’s future energy security, as the country faces frequent power outages and increased demand from businesses and households. The $12.65 billion plant, located in the central Pabna district about 140 kilometers west of Dhaka, is being built with the assistance of Russia’s state-owned nuclear power company, Rosatom, and is funded by a Russian loan.
The officials also noted that Russia is still pushing for an alternative payment system for trade and business between the two countries. Moscow has suggested that Bangladesh consider options such as establishing a currency swap agreement, using the rouble in trade settlements, or enabling the Russian Central Bank’s messaging system to facilitate bilateral trade and investment. This request comes amid sanctions imposed on Russia over its conflict in Ukraine, and Russia seeks to overcome obstacles in transferring funds.