Russia to adopt use of national currencies for energy resource trade in mutual settlements

Deputy Prime Minister of the Russian Federation Alexander Novak said that Russia will switch to national currencies when paying for energy resources and intends to abandon the euro and the dollar in favor of the yuan and the ruble in the future.

Novak added in a TV interview: “The trend has changed a lot in terms of reducing the use of dollars or euros. Due to current problems with settlements in these two currencies, we will switch to national currencies only on our accounts. The yuan is needed here, and the ruble is also needed.”

Novak continued: “Work in this direction will continue. The Chinese side pays for gas in yuan, and also partially for oil. Payment is also made in rubles. We will continue to develop these mutual settlements in national currencies.”

According to him, at present there is a great interest in buying Russian energy resources, so it is necessary to create settlement mechanisms, and they can only be in national currencies.

Source: TASS

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