China began to buy coal and oil from Russia for yuan

The states agreed on the transfer of mutual settlements into national currencies

A number of Chinese companies purchased Russian coal for yuan in March, the first shipments of coal will arrive in China this month. This is evidenced by the data of the consulting company Fenwei Energy Information Service Co.

After the introduction of anti-Russian sanctions by the West due to Russia’s special operation in Ukraine, this will be the first delivery of Russian raw materials paid in yuan.

Russian oil exporters have also provided Chinese buyers with the option to pay for supplies in yuan. According to Bloomberg sources , the first batches of ESPO oil purchased for yuan will be delivered to independent refiners in China in May.

Earlier it became known that in the first three days of April, the average daily export of oil from Russia to non-CIS countries increased by 2% compared to the previous month – up to 575.6 thousand tons. Poland (by 1.8 times) and China (+10%) became the leaders in terms of import growth .