LONDON/WASHINGTON -- Russia has paid dividends from the Sakhalin oil and gas development projects in Chinese yuan, Nikkei has learned, a move necessitated by Western sanctions on Moscow that have kept financial institutions from accepting dollars related to Russian business.
Ukraine war
Russia pays Sakhalin dividends in Chinese yuan
Western sanctions on Moscow cast shadow on dollar hegemony
Chinese yuan and Russian ruble banknotes. The yuan is emerging as an alternative to the dollar now that financial sanctions in the wake of Russia's invasion of Ukraine have kicked Russia out of the dollar settlement network. © Reuters
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