Russia will require all future oil and gas agreements with Europe to be priced in Russian rubles and Chinese yuan.

Energy analysts say the decision reflects Moscow’s growing economic alignment with China and its continuing push to reshape international trade systems amid ongoing geopolitical tensions. Since the expansion of Western sanctions against Russia, the Kremlin has accelerated efforts to settle international transactions in alternative currencies.

Under the new framework, European companies seeking future Russian oil and gas supplies may be required to make payments either in rubles through Russian banking channels or in Chinese yuan through approved financial institutions. Existing contracts may remain unchanged initially, though officials hinted that broader transitions could follow over time.