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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.


Gazprom says it has signed deal for China to pay for Russian gas in national currencies

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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