First yuan-bought coal cargoes are set to arrive in China this month, followed by Russian crude in May, as the two nations maintain their energy trade, according to Bloomberg.
These will be the first commodity shipments paid for in yuan since the US and Europe penalized Russia and cut several of its banks off from the international financial system, according to traders.
Moscow is also offering rupee-ruble payments to Indian oil buyers, while Saudi Arabia is in talks with Beijing to price some of its crude in yuan, as the two nations try to curtail dollar’s dominance in global trade.
