Russia and China agree to make use of nationwide currencies for gasoline funds

Russia and China agree to make use of nationwide currencies for gasoline funds

Gazprom and Chinese state-owned CNPC agree to use both yuan and ruble for gas payments

The Russian energy giant Gazprom announced an agreement on Tuesday with state-owned China National Petroleum Corporation (CNPC) to use both the yuan and the ruble for gas payments.

In a videoconference meeting, the presidents of Gazprom, Alexey Miller, and of CNPC, Dai Houliang, signed a long-term agreement for purchases and sales of gas using the national currencies of the two countries.

The two companies defined that the gas supply will be through a route in the “Far East”, where Gazprom plans to build a gas pipeline.

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