Russia proposed this Saturday to stop selling hydrocarbons in dollars and euros because of Western sanctions following the invasion of Ukraine and to focus on transactions in rubles or yuan, Russian Deputy Prime Minister Alexandr Novak said today.
“The trend has shifted sharply towards less use of dollars or euros. Taking into account the current payment problems with these currencies, we will conduct all transactions in national currencies, with demand for yuan and rubles,” Novak said in an interview with Russian television. .
According to Novak, this is “a trend that will continue”.
“Our partners already pay us in yuan for gas in China and some for oil. Transactions are also conducted in rubles. We will continue to refine these mutual payment mechanisms in national currency”he added.
Following the military invasion of Ukraine on February 24, 2022, the West imposed sanctions on Russia, including freezing Russian assets abroad and disconnecting Russian banks from the SWIFT system. Moscow instituted payment in rubles for Russian gas.
In addition, Russia has announced that it will try to carry out more transactions in currencies of “friendly” countries as an alternative to traditional currencies such as the dollar and the euro.
Source: DN
