Russia has used China’s yuan to pay dividends from the Sakhalin oil projects because it was cut off from international financial systems due to Western sanctions imposed in response to its invasion of Ukraine, Nikkei Asia reported.
Russia made the yuan payments to Japanese trading firms that have stakes in the Sakhalin 1 and 2 oil and gas fields, Nikkei said. Prior to the sanctions imposed by the US and Europe, Russia was making the dividend payments in dollars, the report added.
Read the full report: Nikkei Asia
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