China may switch to Roubles or Yuans in energy trade with Russia
China does not rule out the possibility of switching to Russian Roubles or Yuans in energy trade with the Russian Federation – as informed by the Chinese Foreign Ministry, TASS reports
When asked whether China is ready to pay for Russian energy in Roubles or Yuans instead of Dollars, the Foreign Ministry commented, “Market players can choose the currency for bilateral settlements – based on their personal needs. The use of own national currencies in the process of regular trade and economic co-operation may help avoid currency risks and reduce losses related to currency exchange."
The Chinese Foreign Ministry also stressed that local companies plan to use Russian Roubles or Yuans more actively in trade with the Russian Federation ‘on an equal and mutually beneficial basis, taking into account the changing market situation’. At the same time, as stated, ‘due to various considerations, China will also make payments in currencies of other countries’.
