Russia and China Pursuing Energy Trade in National Currencies

Russia and China are shifting to payments in national currencies for deliveries of energy resources according to Russian Prime Minister Alexander Novak on Rossiya-24 TV Channel.

  • "We are shifting to payments in national currencies - in rubles and in yuan - for supplied energy resources, to mutual settlements performed in particular for supplies of equipment from China," Novak said.
  • "As an example, gas supplies at present between Gazprom and the People’s Republic of China are made on a parity basis in rubles and in yuan," he added.
  • In a further comment, Novak said that Russian and Chinese trade of oil and petroleum products is being proactively shifted to their national currencies as well.
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