MNI BRIEF: China State Planner To Increase Trade-in Support

MNI China Daily Summary: Thursday, July 25

MNI BRIEF: Japan Govt Keeps Econ View, Cuts Exports

MNI: PBOC Conducts CNY200 Bln via MLF Thurs; Rate Cut

MNI: PBOC Sets Yuan Parity Lower At 7.1321 Thurs; -1.92% Y/Y

CHINA PBOC CONDUCTS CNY235.1 BILLION VIA 7-DAY REVERSE REPOS THURS

Core Goods Pipeline Pressures Pick Up On 3m/3m Basis

Aircraft-Led Durables Collapse Masks Rebound In Core Orders

MNI: BELGIUM JUL BNB BUSINESS SURVEY -12.3

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

80% of Russian Oil and Gas Trade in Ruble or Yuan: Novak

OIL

The Russian oil and gas industry does about 80% of its business in rubles and yuan according to Deputy Prime Minister Alexander Novak.

  • "More than 90% of our settlements with China were made in national currencies as of the end of 2023. These are the ruble and the Chinese yuan.” Novak said.
  • Speaking about our oil and gas sector in general, we sell about 40% of our products for export for rubles and about 40% - for the Chinese yuan. 20% is left for other currencies," he added.
  • "This means the share of the dollar and the euro is actually minimized. I believe this trend will continue," Novak said.
HomepageCommoditiesEnergy BulletsBullet
HomepageCommoditiesEnergy BulletsBullet

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.