Rosneft and the Chinese CNPC switched to payment of raw materials in national currencies.
This is stated in a statement by the Russian company following the meeting of its head Igor Sechin with the chairman of the board of directors of CNPC Dai Hawlyan as part of the St. Petersburg International Economic Forum.
“One of the key areas of cooperation between Rosneft and the Chinese National Oil and Gas Corporation CNPC are oil supplies, the volume of which, in accordance with current contracts, reaches 40 million tons per year. At the present, the companies have switched to payment of raw materials in national currencies, ”the message says.
In September 2002, another Russian energy company Gazprom and Chinese CNPC agreed to pay for gas in rubles and yuan.
Russia is trying to get away from dollars and euros in international agreements due to sanctions imposed by Western countries in relation to the country’s financial system.
Energy companies in Russia, whose supply of energy to the Western countries has declined due to sanctions are aimed at increasing deliveries to Asian markets, especially to China.