Putin: ruble and yuan will be used in gas payments with China in equal proportions

Confidence in the dollar has been lost, so Russia is trying to get away from settlements in an unfriendly currency. In this regard, Russia and China will use the ruble and yuan in equal proportions when paying for gas. This statement was made by Russian President Vladimir Putin during his speech at the plenary session at the Eastern Economic Forum.

“Lost confidence in the dollar, euro and pound sterling as currencies in which you can make payments, keep reserves, nominate assets. And we are moving away step by step from the use of such unreliable, compromised currencies, ”Putin said (quote according to TASS). In addition, the president stressed, “even US allies” are reducing their dollar holdings.

He also pointed to yesterday’s decision by Gazprom and China’s CNPC. Companies reportedthat will switch to payments in rubles and yuan for gas supplies to China. Putin clarified that the calculation will be made in equal proportions – “50 to 50”.

Moreover, in early September, Bloomberg reported about the plans of the Central Bank to buy $70 billion this year in yuan and other “friendly” currencies to slow down the growth of the ruble. Same day in the regulator declaredthat the use of currencies of countries friendly to Russia for settlements and storage of assets is much safer, since the likelihood of their joining Western sanctions is low.

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