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IPFS News Link • Russia

Gazprom Neft Switches to Yuan Payments in China

• globalresearch.ca, By Tsvetana Paraskova

Russian oil firms have sought for years to shift away from U.S. dollar payments for deliveries, while China intends to make the yuan a more widely used currency internationally.

Analysts say the settlement of jet fuel payments in yuan is also part of a broader strategy of the Russian companies to diminish the risk of U.S. sanctions against them.

As of September, Gazprom Neft is starting to move settlements for jet fuel of aircraft flying to and from China away from the U.S. dollar and in either Russian rubles or Chinese yuan, Dyukov said on the sidelines of the Eastern Economic Forum in Vladivostok on Friday.

"We begin in September and we can move all aviation fuel settlements in China into yuan by the end of the year," Dyukov said, as carried by Russian news agency TASS.


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