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" Gazprom " is ready to move to settlements with China in yuan and rubles


Gazprom is ready to move to settlements with China in yuan and the ruble does not see in this risk, said the Deputy Chairman of the management Board, head of financial-economic Department of the gas holding Andrey Kruglov.

" As for settlement in yuan in rubles - we are in principle ready for this, we believe, because it is completely normal. No risks for Gazprom bear it will not, with the exception of small transaction costs, " said Kruglov at a press conference on Thursday.

Gazprom and CNPC signed on may 21, thirty-year contract for production and delivery to China of 38 billion cubic metres of gas each year for a total of around 400 billion dollars, Which was the largest contract for Russian holding. Shortly after the document was signed by energy Minister of Russia Alexander Novak said That the settlement is expected to carry out in dollars.

The issue of transfer payments for certain types of export of items on the ruble now is studied by the Finance Ministry. The idea appeared at the background of the introduction of Western sanctions against Russia because of its position in Ukraine and the Crimea. Most of the partners are already using the rouble in trade with Russia, for example, and China, however, the calculations for most export contracts are moving in dollars.


The rapprochement of Russia and China can have a negative impact on the position of the dollar as world reserve currency, said the investment Manager of the West Shore Group and partner Tangent Capital Partners Jim Richards.

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` Gazprom ` is ready to move to settlements with China in yuan and rubles
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