Gazpromneft plans to sell all the ESPO Blend crude that it supplies to China for yuan rather than dollars. The company sold 740,000t (5.4mn bl) of ESPO Blend through the far east Kozmino terminal to China for yuan last year, switching sales to the Chinese currency after the US and the EU imposed sanctions on Russian firms. Gazpromneft was the first leading oil firm to start receiving non-dollar payments for exports, after the Russian government encouraged exporters to switch to roubles and other currencies.
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