– Russia’s Gazprom and China’s CNPC to exclude dollar from gas settlements (RT, June 16, 2015):
Russia and China expect to use the ruble and yuan in payments for gas supplied using the western Altay pipeline. When it and the eastern Power of Siberia pipeline is open Beijing will become the biggest consumer of Russian gas.
“As a sales contract is not signed, then, of course, the currency of payment has not yet been determined. However, the Chinese side and the Russian side are discussing [currency-Ed.] today and are in intricate negotiations on the possibility of paying in yuan and rubles,”Gazprom Export CEO Elena Burmistrova said Tuesday. Continue reading »