Russia switches to settlements in national currencies, Novak says

Russia switches to settlements in national currencies, Novak says

© Photo: Maria Novoselova / Vestnik Kavkaza

Payments for energy resources are converted exclusively into national currencies. Now the Russian ruble and the Chinese yuan are most actively used, Novak said.

Russia intends to receive payments for energy resources only in national currencies.

"The trend has changed a lot in terms of less use of dollars or euros. Considering the current problems with settlements with these currencies, we are actually switching to national currencies. The yuan is in demand, as well as the ruble,"

- Deputy Prime Minister Alexander Novak says.

Currently, China pays for Russian gas in yuan, and oil is also partially paid in the Chinese national currency. In addition, payments are made in rubles, Novak informs.

The demand for Russian energy resources on the international market is large, he added. The Russian side intends to increase the share of mutual settlements in national currencies in the field of energy.

According to the Russian Central Bank, the attractiveness of the ruble for international payments will increase if its purchasing power does not decrease, the exchange rate becomes more stable, and inflation stays low.

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