Russia's Gazprom Neft to use Chinese Yuan for jet fuel sales in China amid US threat to block Russia's use of the dollar

[beijingwalker]

Russia's Gazprom Neft to use Chinese Yuan for jet fuel sales in China amid US threat to block Russia's use of the dollar​

• OIL
• 14 Feb 2022 | 11:34 UTC

Russian oil company Gazprom Neft 's jet fuel subsidiary Gazpromneft-Aero said Feb. 14 that it has switched to the yuan in settlements for refueling flights of Russian airlines in China.

The move, which was initiated in September, comes amid threats from the US and the UK to ban Russia's use of the SWIFT global payments system and the dollar in the event of a Russian invasion of Ukraine.

Before the end of 2022, Gazprom Neft plans to switch payments for refueling Chinese airlines' aircraft in Russian airports to rubles.

The decision aims to increase air traffic volumes between Russia and China and was taken by the intergovernmental Russian- Chinese commission on energy cooperation.

"Moves towards mutual settlements in the national currency at major airports in China will not only strengthen cooperation with our partners here, but also further increase efficiency in financial transactions," Gazprom Neft's deputy CEO Alexei Yankevich said.

In 2021, Gazpromneft-Aero raised the total volume of of Russian-Chinese flights refueled at Russian and Chinese airports to 115,000 mt, targeting 200,000 mt of jet fuel sales on the route by 2025.

Gazprom Neft said previously that 95% of their contracts got an option for non-dollar settlements.

In 2020, nearly 20% of the company's export sales to Far Abroad were settled in currencies other than the dollar.

Russia's Gazprom Neft to use yuan for jet fuel sales in China

Russian oil company Gazprom Neft s jet fuel subsidiary Gazpromneft Aero said Feb. 14 that it has switched to the yuan in settlements for refueling flights of Russian airlines in China.

www.spglobal.com

 

[SecularNationalist]

Hey uncle SAM welcome to the bipolar world.

 

[Beast]

When China comes into the equation. Any sanction by US becomes zero.

 

[beijingwalker]

When China comes into the equation. Any sanction by US becomes zero.

China is making sanctions on Russia irrelevant

The announcement of the new Russia-China oil and gas arrangements makes Washington’s warnings seem hollow, or at least behind-the-times

thehill.com

 

[HAIDER]

Biden shouldn't interfere in Russia's EU gas deal .... now this is the reaction...

 

[beijingwalker]

Biden shouldn't interfere in Russia's EU gas deal .... now this is the reaction...

US is shooting itself in the foot.

 

[Han Patriot]

When China comes into the equation. Any sanction by US becomes zero.

Without China Russia would have been toasted. Now they have no choice but to use digital RMB

 

[ARMalik]

Well in all fairness, it is Russian state policy from many years ago to stop trading in US dollar, and rely on Euro, Yuan and Gold. So this news is all just noise because this has been happening in Russia since a long time ago. Russia is a nation which has self respect, integrity, military power and vast natural resources, and it doesn't need US monkeys to exist.
Pakistan is obviously the polar opposite of Russia. A country with no self respect, no integrity and with a begging bowl out for US Dollars from IMF.

 

[aziqbal]

Russia is pulling back what a embarrassing moment for Russia

Now sanctions will follow

I guess they know need new friends and buy more Chinese yuan

 

[zzzz]

Russia is pulling back what a embarrassing moment for Russia

Now sanctions will follow

I guess they know need new friends and buy more Chinese yuan

Russia already placed the sanctions on you.

I see you already forgot about currently most important UK issue following successful propaganda and distraction compaign from Boris the Fool about fake Russian invasion

 

[aziqbal]

Russia already placed the sanctions on you.

I see you already forgot about currently most important UK issue following successful propaganda and distraction compaign from Boris the Fool about fake Russian invasion

good no more counterfeit Vodka then

 

[beijingwalker]

good no more counterfeit Vodka then

PDF think tank analyst level of trolling, lol

 

[Tshering22]

China is making sanctions on Russia irrelevant

The announcement of the new Russia-China oil and gas arrangements makes Washington’s warnings seem hollow, or at least behind-the-times

thehill.com

There is a need to have an alternate pool or pools of currencies as a backup to the USD. If something happens tomorrow to the US suddenly, much of the world financial system will collapse without an alternate system. Good to see that there are viable options. We may have disagreements, but one thing is common; an alternate is required.

 

[beijingwalker]

There is a need to have an alternate pool or pools of currencies as a backup to the USD. If something happens tomorrow to the US suddenly, much of the world financial system will collapse without an alternate system. Good to see that there are viable options. We may have disagreements, but one thing is common; an alternate is required.

China’s digital yuan takes on Visa at the Beijing Winter Olympics​