International

China to pay for Russian gas in Rubles, Yuan

A view of Gazprom employees [Photo: Twitter/ DimitriAsemes]

Russian gas giant Gazprom has said that China will start paying for Russian gas in rubles and yuan instead of Western currency, as Moscow seeks closer ties with Beijing in the wake of economic sanctions over the Kremlin’s war in Ukraine, international media reported.

“A transition was made to making payments for Russian gas supplies to China in the national currencies of the countries — the ruble and yuan,” The Moscow Times reported quoting a statement from Gazprom issued after a video conference meeting with Chinese oil group CNPC.

The report quoting Gazprom head Alexei Miller, said, “The new payment mechanism is a mutually beneficial, timely, reliable and practical solution”.

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