Russia: We are working on adopting the Chinese yuan in commercial transactions

Russian Deputy Prime Minister Alexander Novak said his country is working to adopt the Chinese yuan in commercial transactions.

“We have concluded agreements to sell Russian gas and coal in Chinese yuan, “Novak added.

Moscow faces sanctions from the US and the West for launching a war against Ukraine on February 24.

Russia responded to Western sanctions by agreeing to pay for Russian gas in rubles to “hostile” countries.

A few days ago, Novak expressed his confidence that Europe would pay for Russian gas in rubles, noting that European countries had expressed their approval for the Russian decision.

“European countries and companies that consume Russian gas are currently considering adopting the ruble to pay for this gas,” Novak said.

He added: “We hear different statements, there are those who have already accepted this approach and there are countries that are studying the step”, expressing his belief that payments for Russian gas will take place in the manner set by the Russian president.

Russian President Vladimir Putin signed a decree on the payment mechanism for natural gas supplied to “hostile countries”, including the European Union, in Russian rubles. According to the decree, customers in hostile countries are required to open accounts in Russian currency in Russian banks.

It is noteworthy that the decree of Russian President Vladimir Putin in this regard has entered in force on the first of this April.

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