pay for refueling aircraft flying to or from China, the company’s CEO
Alexander Dyukov told reporters on the sidelines of the Eastern Economic
September, and by the end of the year we can transfer virtually all
payments for aviation fuel in China to yuan,” Dyukov said. He added that settlements for refueling Chinese airliners at Russian airports will be converted into rubles.
The agreement has been reached between Gazprom Neft, which operates 34 airports in China, and China’s national jet fuel operator,
after a lengthy period of talks regarding a move away from making payments in US dollars.
This is the first time, however, for the
Russian-Chinese aviation fuel business to transfer payments to national
currencies. According to Dyukov, test settlements in yuan and rubles
showed an additional economic effect.
… Moscow and Beijing have been pushing for a greater role of their respective currencies on the global financial market and have made a number of steps to lower their US dollar holdings in the past several