Due to the war with Ukraine, the Western world has given unprecedented pressure on Russia. In response to this ban, Moscow announced to pay the price of gas in rubles instead of dollars. Many European countries have refused to pay gas prices in rubles, but Russia has signed an agreement with China to pay gas prices in rubles.
Aljazeera reported this information in a report.
Russia’s state-owned energy company Gazprom said in a statement that it has reached an agreement with Beijing to pay in rubles and yuan instead of dollars.
The deal is seen as a sign of warming Beijing-Moscow ties despite Western sanctions.
A video conference was held between Gazprom CEO Alexey Miller and Chinese oil group CNPC CEO Dai Hauliang.
In a statement later, Gazprom’s CEO said the new payment system is a mutually beneficial, timely, reliable and practical solution. Besides, this deal is a good example for other companies too.
Gazprom CEO Alexey Miller did not say when official transactions between the two countries will begin in rubles and yuan instead of dollars.
Due to Western sanctions, Moscow has recently been trying to strengthen friendly relations with countries outside the Western circle.
On February 24, Russia started military operations in Ukraine. Then the Western world imposed unprecedented sanctions on Russia. At that time, Russian President Vladimir Putin decided to pay the price of gas in rubles to reduce the dominance of the dollar. Russia has stopped supplying gas to companies that refused to pay gas prices in rubles.