Financial times: Russian organizations are prepared to pay in yuan
Russian organizations are preparing for the conclusion of contracts in the yuan and other Asian currencies amid fears that Western punishment have the opportunity to supplant them with dollar market, writes.
" over the past few weeks the market has experienced great interest from major Russian companies to use the yuan and other Asian currencies, as well as for the opening of accounts in Asia " - said in an interview Pavel Teplukhin, chief Executive officer of Deutsche Bank in Russia.
head of the Board of VTB Bank Andrey Kostin also said that the increased use of non-dollar currencies is one of the main objectives of the Bank.
The head of the Russian company, which receives 70% of its income from export in U.S. dollars, said that his Firm has already laid the foundations for the transition to payments in currencies other in case of further punishment, says CNBC." If something happens, we are ready to switch to other currencies, for example, the Chinese yuan or on the Hong Kong dollar, " said the businessman.
Alexander Dyukov, the General Director of JSC " Gazprom Neft ", said that the Company is discussing with consumers the opportunity of translation of contracts from dollars into other currencies.
The company " Norilsk Nickel " is also conducted dialogues with the Chinese consumers about the possible terms of long-term contracts in yuan.
According to Paul Teplukhina, Russian organizations can reduce the risk of future U.S. sanctions by " change the letters of the contracts so that they are enabled to exchange currency, If it is necessary ".
However, as long as a complete rejection of dollars in the Russian economy is not provided, emphasizes CNBC, citing assistant to the President of the Russian Federation Andrei Belousov: " as long as Russia is not systematically sanctions that could lead to artificial restriction of access of our economy to dollars,