RT.com
30 Mar 2023, 19:14 GMT+10
The transaction involved a shipment from the United Arab Emirates, according to the Shanghai exchange
China has conducted its first liquefied natural gas (LNG) purchase settled in yuan, the Shanghai Petroleum and Natural Gas Exchange announced on Tuesday. The trade involved around 65,000 tons of LNG imported from the United Arab Emirates, according to the exchange.
TotalEnergies, which is one of the world's top exporters of LNG, confirmed the transaction of LNG imported from the UAE without specifying details, Reuters reported.
The move is the latest sign of the yuan's growing role on the international stage, according to the outlet. As part of its de-dollarization strategy, Beijing has been promoting settlements in national currencies other than the US dollar and euro.
During a visit to Saudi Arabia in December, Chinese President Xi Jinping stated that his country would "make full use of the Shanghai Petroleum and National Gas Exchange as a platform to carry out yuan settlement of oil and gas trade."
READ MORE: Russia-China gas megadeal ?at final stages? ? official
Russia became China's largest oil supplier in the first two months of 2023 and is set to become the country's top gas exporter. Moscow has increasingly embraced settlements in yuan amid Western sanctions.
The latest data from the Bank of Russia shows the yuan has become a major player in Russia's foreign trade, with its share of the country's import settlements jumping to 23% by the end of last year, from only 4% in January 2022. The yuan's share in export settlements has also surged, from 0.5% to 16%.
For more stories on economy & finance visit RT's business section
(RT.com)
Get a daily dose of Broadcast Communications news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Broadcast Communications.
More InformationNEW DELHI, India: Indian federal police documents indicate that the country has filed a graft case against the UK's BAE ...
NEW YORK, New York - U.S. stocks rallied sharply on Thursday after the House of Representatives passed the controversial bill ...
SANTA CLARA, California: Nvidia Corp, the world's most valuable listed chip company, said that to meet soaring customer demand for ...
BURBANK, California: Over the US Memorial Day weekend, Disney's live-action remake of its 1989 animated classic, "The Little Mermaid," brought ...
NEW YORK CITY, New York: The Nielsen company said that CBS has again claimed the title of most-watched television network ...
NEW YORK, New York - U.S. and global stocks tumbled Wednesday as lawmakers continued to navigate their way through Congress ...
NEW YORK CITY, New York: The Nielsen company said that CBS has again claimed the title of most-watched television network ...
New Delhi [India], June 2 (ANI): Union Home Minister Amit Shah on Friday directed the Ministry of Home Affairs and ...
Jaipur (Rajasthan) [India], June 2 (ANI): In a major administrative reshuffle in Rajasthan, seven Indian Administrative Service (IAS) and 30 ...
Tom Brady insists that he is staying retired this time. "I'm certain I'm not playing again," the seven-time Super Bowl ...
New Delhi [India], June 1 (ANI): Hitting out at Rahul Gandhi over his remarks in the United States on Prime ...
washington - Scientists have expanded the search for technologically advanced extraterrestrial civilizations by monitoring a star-dense region toward the core ...