Russia to bypass dollar with RMB payment over gas deal  

俄气拟香港上市 中俄天然气大单或人民币卢布结算

俄罗斯天然气工业公司(俄气)董事会副主席兼首席财务官克鲁格洛夫26日在此间透露，尽管5月签订的中俄天然气30年供气合同以美元签订，但俄气“已准备好以人民币或卢布结算气款”，俄气并拟于今秋完成在香港上市的谈判。[查看全文]

Moscow (ECNS) – Russia is looking east for new business and investments as its relations with the West worsen.

Russia's Gazprom, the world's largest natural gas company, is considering a Hong Kong listing as well as receiving renminbi payment from China, in an effort to shift its focus to Asia and sidestep the dollar.

Banks of Western countries have been reluctant to lend to Russian companies. Gazprom's chief financial officer Andrei Kruglov said in a media briefing Thursday that the move would help strengthen its foothold in Asia.

Gazprom listed its American Depositary Receipts, or ADRs, on the Singapore stock exchange last week, giving more access to Asian investors.

Kruglov also said the company has been preparing to receive payments in Chinese yuan for selling gas to China. The two countries signed a $400 billion deal in May, while European countries are trying to reduce their reliance on Russian gas.

According to the agreement, Gazprom will start selling 38 billion cubic meters of natural gas each year to China from 2018.