China May Purchase Gas from Russia in Rubles

The Chinese authorities do not rule out the possibility of transitioning to payments in rubles or yuan during energy trade with the Russian Federation. This was reported to TASS by the Chinese Foreign Ministry.

“When making mutual settlements, market participants can choose the currency that suits their needs,” the Chinese Foreign Ministry stated in response to a question about whether China is ready to pay for energy supplies from Russia in rubles or yuan instead of U.S. dollars.

“The use of one's national currency in the process can help avoid currency risks and reduce costs associated with currency exchange,” the statement from the Chinese Foreign Ministry added.