Payments for the supply of natural gas from Russia to China will now be made in rubles and yuan, instead of dollars, Gazprom announced. Turkey also joins the agreement.

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Russian oil company Gazprom announced today that it has signed an agreement to begin paying for Russian gas supplies to China in yuan and rubles instead of dollars.

Gazprom CEO Alexei Miller said the new deal, which provides for payments in Russian rubles and Chinese yuan, is "mutually beneficial" for both Gazprom and China National Petroleum Corporation (CNPC) and could set an example for other companies. .