Russia says China will start paying for gas in rubles and yuan


Key Topics in this News Article:

News Snapshot:

Russia’s Gazprom said on Tuesday it had signed an agreement to start switching payments for gas supplies to China to yuan and rubles instead of dollars. The shift is part of a push by Russia to reduce its reliance on the US dollar, euro and other hard currencies in its banking system and for trade — a drive that Moscow has accelerated since it was hit with Western sanctions in response to its invasion of Ukraine. Russia has been forging closer economic ties with China and other non-Western countries, in particular as new markets for its vital hydrocarbon exports. Gazprom...