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Gazprom said Tuesday the company will move payments for gas exports to China away from euros and shift to rubles and yuan.
Russia’s state-run gas giant said the new method of payment would take effect immediately for its contract with China’s National Petroleum Corp. Payments will be split evenly between rubles and yuan, sources told Bloomberg.
Russia has swiftly moved away from the euro and dollar since the Kremlin’s invasion of Ukraine, with President Vladimir Putin demanding that countries receiving Gazprom flows in Europe pay in rubles to circumvent Western sanctions.
