Novak said that payments under contracts for gas supplies from Russia to China are already switching to the national currencies of the two countries.
Settlements for supplies of oil, petroleum products and coal are being actively transferred in rubles and yuan, he added.
“The Central Bank of Russia and the Bank of China are working on the possibility of opening accounts for Russian companies in China, Chinese companies in Russia, and creating a payment system without using SWIFT," Novak said.

Bullet Energy Bullets Homepage Commodities

Andrew Couper

Bullet Energy Bullets Homepage Commodities

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China and Russia Working on SWIFT Payment Alternative