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Russia/China Gas Trade to Settle Equally in Ruble/Yuan

NATURAL GAS

The Russian ruble and Chinese yuan will be used equally in settlements for gas with China's CNPC according to Putin.

  • "The new payment mechanism is a mutually beneficial, timely, reliable and practical solution. I believe that it will simplify settlements, become an excellent example for other companies and give additional momentum to the development of our economies," Gazprom's CEO, Alexei Miller said.
  • Russia has been supplying gas to China via the Power of Siberia pipeline since late 2019 and supplies are expected to grow to 38 billion cubic metres a year over the first five years.
Energy BulletsCommodities
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