Rosneft announced a systematic transition to the ruble and national currencies in the calculations

The oil and gas company Rosneft in foreign trade is switching to settlements in rubles and national currencies of friendly countries, optimizing the structure of its debt portfolio. A day earlier, it became known that the company placed bonds in yuan at a rate of 3.05% per annum. The coupon amounted to 15 billion yuan (130 billion rubles).

“High demand from market investors made it possible to attract record funds in yuan at the lowest rate among issues carried out in the Russian Federation. The debut issue of the Company’s bonds in yuan became the largest market placement of corporate bonds on the Russian market in its entire history,” the statement reads. message companies following the placement of bonds.

“As part of the execution of the order of the President of the Russian Federation, the company is systematically switching in foreign trade to settlements in rubles and national currencies of friendly countries,” emphasizes Rosneft.

On September 14, the Moscow Exchange registered bonds of series 002Р-12 with a circulation period of 10 years. The nominal value of one bond was 1,000 Chinese yuan. Rosneft clarified that the coupon income on them will be paid twice a year.

Earlier today, Rosneft released IFRS results for the first half of 2022. The net profit of the oil company grew by 13.1% year-on-year, amounting to 432 billion rubles, revenue amounted to 5.172 trillion rubles. (growth 32.5%). Igor Sechin, Chairman of the Board of the Company, noted that the company’s financial results “form a reliable basis for interim dividends and further growth in total payments for the year.” The company’s shares on the Moscow Exchange grew by 2% after the publication of the report, at 12:40 Moscow time they are down by 1.4%.

Former Minister of Finance Anton Siluanov recommended create reserves in gold and Chinese national currency. In his opinion, the role of the yuan in Russian reserves will continue to grow. Russian President Vladimir Putin also declaredthat the ruble and yuan will be used in equal proportions in gas settlements with China.

Milena Kostereva