Russia Moves to Require Future Oil and Gas Deals With Europe Be Paid in Rubles and Yuan

Russia has announced plans to require all future oil and natural gas agreements with European buyers to be conducted in Russian rubles and Chinese yuan, marking a major shift in global energy trade and intensifying efforts to reduce reliance on Western currencies.

The proposed policy, which officials describe as part of a broader financial sovereignty strategy, would apply to new long-term energy contracts signed with European partners. Russian authorities argue that the move is designed to strengthen economic resilience against sanctions and reduce exposure to fluctuations tied to the U.S. dollar and euro.