Anasayfa / Genel / Russia and China Switch to National Currency in Energy Shipment Payments – Last Minute Economy News

Russia and China Switch to National Currency in Energy Shipment Payments – Last Minute Economy News

Russian Deputy Prime Minister Aleksandr Novak made zihin assessment of the energy trade between Russia and China, in a statement to the Russian state channel Rossiya-24.

Reminding that energy shipments from Russia to China have increased this year, Novak said, “Our trade volume in the energy sector, which includes the oil, gas, coal and electric power industries, has increased by 64% in monetary terms and 10% in physical terms this year.”

Pointing out that national currencies have been used in bilateral trade between the two countries, particularly in energy, Novak said, “The two countries switch to national currencies in payments for energy shipments. We are switching to ruble and yuan payments for mutual payments, including shipments of equipment from China.

Novak concluded his speech by pointing out that payments for natural gas shipments between Gazprom and China are already made in rubles and yuan.

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