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China-Russia Gas Deal Rejects US Dollar

The Russian-state-owned energy company Gazprom is making a deal to sell natural to China using their own currencies, the ruble and the yuan.  The move is a bid to create a world-currency counter to the current world currency, the American dollar.

NEWSWATCH BLURB:

Gazprom says it has signed deal for China to pay for Russian gas in national currencies www.businesstoday.in
Excerpt:

Russia’s Gazprom said on Tuesday it had signed an agreement to start switching payments for gas supplies to China to yuan and roubles instead of dollars.

The shift is part of a push by Russia to reduce its reliance on the U.S. dollar, euro and other hard currencies in its banking system and for trade – a drive that Moscow has accelerated since it was hit with Western sanctions in response to its invasion of Ukraine.

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