Payments for the supply of natural gas from Russia to China will now be made in rubles and yuan, instead of dollars, Gazprom announced. Turkey also joins the agreement.
Russian oil company Gazprom announced today that it has signed an agreement to begin paying for Russian gas supplies to China in yuan and rubles instead of dollars.
Gazprom CEO Alexei Miller said the new deal, which provides for payments in Russian rubles and Chinese yuan, is “mutually beneficial” for both Gazprom and China National Petroleum Corporation (CNPC) and could set an example for other companies
What does the additional agreement provide for – “YES” and from Turkey
The Russian energy giant announced the signing of an additional agreement to the existing one with China National Petroleum Corp. The payment will be 50 percent in rubles and 50 percent in yuan, effective immediately, a Bloomberg source said on condition of anonymity.
Vladimir Putin called on Gazprom’s main customers in Europe to pay for gas in rubles earlier this year. The move came in response to the US and its allies freezing more than $300 billion in Russian central bank reserves.
Russia also agreed to gas payments in rubles with Turkey, which maintains close ties to the Kremlin and has not imposed sanctions.
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