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16-06-2023, 08:31 PM
https://oilprice.com/Latest-Energy-News/...-Yuan.html
Russia Pays Sakhalin Dividends In Yuan
Russia has reportedly paid dividends from the Sakhalin 1 and 2 oil projects in Chinese yuan, a shift from its usual practice of paying in dollars, thanks to western sanctions on Russia. The decision to pay in Chinese currency instead of the traditional U.S. dollar comes after Russia was cut off from the US dollar-dominated global payments systems following sweeping sanctions off the Ukraine war.
Last year, Russia announced it will no longer accept the American currency as payment for its energy commodities but will instead switch to Chinese and Emirati currencies.
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Pakistan’s petroleum minister Musadik Malik has revealed that the south Asian country paid for its first imports of discounted Russian crude in Chinese currency. According to Malik, the purchase, the first government-to-government (G2G) deal between Pakistan and Russia, consisted of 100,000 tonnes, of which 45,000 tonnes have already docked at Karachi port.
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Russia Pays Sakhalin Dividends In Yuan
Russia has reportedly paid dividends from the Sakhalin 1 and 2 oil projects in Chinese yuan, a shift from its usual practice of paying in dollars, thanks to western sanctions on Russia. The decision to pay in Chinese currency instead of the traditional U.S. dollar comes after Russia was cut off from the US dollar-dominated global payments systems following sweeping sanctions off the Ukraine war.
Last year, Russia announced it will no longer accept the American currency as payment for its energy commodities but will instead switch to Chinese and Emirati currencies.
......
Pakistan’s petroleum minister Musadik Malik has revealed that the south Asian country paid for its first imports of discounted Russian crude in Chinese currency. According to Malik, the purchase, the first government-to-government (G2G) deal between Pakistan and Russia, consisted of 100,000 tonnes, of which 45,000 tonnes have already docked at Karachi port.
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