Gazprom PJSC said it will shift its contract to supply gas to China to rubles and yuan from euros, as the Kremlin steps up efforts to move trade out of currencies it considers “unfriendly” amid US and European sanctions.
Russia and China are strengthening their energy alliance after agreeing another long-term gas pipeline supply deal amid Moscow’s strained relationship with the West over Ukraine and European gas supply issues.
The world’s biggest natural gas exporter and one of the globe’s top consumers of the fuel cement their energy co-operation on Monday with the launch of Russia’s giant Power of Siberia pipeline to northern China.
