https://oilprice.com/Latest-Energy-News/World-News/Russia-Pays-Sakhalin-Dividends-In-Yuan.html
“Last year, Russia announced it will no longer accept the American currency as payment for its energy commodities but will instead switch to Chinese and Emirati currencies. “
“Russia has reportedly paid dividends from the Sakhalin 1 and 2 oil projects in Chinese yuan, a shift from its usual practice of paying in dollars, thanks to western sanctions on Russia. The decision to pay in Chinese currency instead of the traditional U.S. dollar comes after Russia was cut off from the US dollar-dominated global payments systems following sweeping sanctions off the Ukraine war.”
Yuan transactions have been on the rise across the globe, but particularly in Russia, owing to the sanctions where yuan’s share of foreign exchange transactions rose to a record high of 39% in March, outpacing the dollar’s share which fell to 34%.
Russia is also accepting payments for its energy commodities in the Chinese currency.
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