Putin arrived in Beijing , Xi Meets Putin as Tensions Rise With West

[Mohsin A]

 

[Ali_Baba]

Why sell in euros? This is a trade between China and Russia. Euro is a Western currency that can be sanctioned. Only yuan and ruble should be used.

Great powers have great currencies.

The Russians want and need hard currency, ie EUR ( since USD is so toxic ).

If you spend anytime dealing with Chinese companies, you realise they all also want to be paid in USD and not Yuan .... how else do you think you have gotten such a large foreign exchange stockpile.

 

[aziqbal]

Great games of dictators

next years sport will be who can run furthest form the Gulag

 

[Apollon]

Isnt that too arrogant from sick man of Europe? Lolz and its winter Olympics, no one ever gives much importance to winter Olympics, infact this time it got hyped.

It does not get hyped in europe this time. Its more about china problems

 

[beijingwalker]

Putin hails $117.5 bln of China deals as Russia squares off with West​

Fri, February 4, 2022, 5:03 PM

Putin hails $117.5 bln of China deals as Russia squares off with West

President Vladimir Putin unveiled new Russian oil and gas deals with China worth an estimated $117.5 billion on Friday, promising to ramp up Russia's Far East exports at a time of heightened tension with European customers over Ukraine.

www.reuters.com

China and Russia declare “no limits” to their plan to rival US power - BBC News​

Great games of dictators

next years sport will be who can run furthest form the Gulag

US wins hands down. US was built on the bodies of bones of the native Americans, no one can beat US in this regard.

 

[tower9]

As Greek i only respect Greeks and to a degree the egyptians. All others exist only to serve us or our interests. Once those interests are fullfilled, they get thrown away.

On a sidenote, wars are never illegal. Wars are diplomacy with other tools, this and nothing else.

How much we respect China you can see on the fact that our primeminister did not visit the Olympic games and and does not plan to visit. Thats a huge blow since the Olympic games are
basicly a greek thing.

So what we have now in China is a autocratic event between China and Russia, virtually no attention from democratic nations and a massive damage to the olympic games in general

Hey, I'll just whisper this to you.

No one gives a **** about Greece.

 

[beijingwalker]

Russian foreign ministry's spokewoman wishing Chinese people a happy Chinese New Year and a successful Beijiing Winter Olympic Games in Chinese

 

[Globenim]

Russia, China agree 30-year gas deal via new pipeline to supply gas to China​

February 4, 20227:39 PM GMT+8

The deal would be settled in euros, the source added, in line with efforts by the two states to diversify away from U.S. dollars.

• Russia already sells pipeline gas, LNG to China
• Gazprom to sell additional 10 bcm of gas to China
• Flows in new pipeline within three years, says source
• Russia at loggerheads with Europe over Ukraine

SINGAPORE, Feb 4 (Reuters) - Russia has agreed a 30-year contract to supply gas to China via a new pipeline and will settle the new gas sales in euros, bolstering an energy alliance with Beijing amid Moscow's strained ties with the West over Ukraine and other issues.

Gazprom , which has a monopoly on Russian gas exports by pipeline, agreed to supply Chinese state energy major CNPC with 10 billion cubic metres of gas a year, the Russian firm and a Beijing-based industry official said.

First flows through the pipeline, which will connect Russia's Far East region with northeast China, were due to start in two to three years, the source said in comments that were later followed by an announcement of the deal by Gazprom.

Russia already sends gas to China via its Power of Siberia pipeline, which began pumping supplies in 2019, and by shipping liquefied natural gas (LNG). It exported 16.5 billion cubic metres (bcm) of gas to China in 2021.

Russia-China plan new gas pipeline

The Power of Siberia network is not connected to pipelines that send gas to Europe, which has faced surging gas prices due to tight supplies, one of several points of tension with Moscow.

Under plans previously drawn up, Russia aimed to supply China with 38 bcm of gas by pipeline by 2025.

The new deal, which coincided with a visit by Russian President Vladimir Putin to the Beijing Winter Olympics, would add a further 10 bcm, increasing Russian pipeline sales under long-term contracts to China. read more

Gazprom gave few details about the deal in its announcement.

Russian gas from its Far East island of Sakhalin will be transported via pipeline across the Japan Sea to northeast China's Heilongjiang province, reaching up to 10 bcm a year around 2026, said the Beijing source, who asked not to be identified.

The deal would be settled in euros, the source added, in line with efforts by the two states to diversify away from U.S. dollars.

A CNPC representative did not immediately comment.

Discussions between the two firms began several years ago after the start-up of Power of Siberia, a 4,000-km (2,500-mile)pipeline sending gas to China. Talks accelerated more recently after Beijing set its 2060 carbon neutral goal, the source said.

"China's coal shortage last year served as another wake-up call that natural gas has its special value, that's why CNPC decided to top up with the new pipeline deal," the source said.

A CNPC representative did not immediately respond to a request for comment.

The pricing of the new gas deal will be similar to that of Power of Siberia, the source said, adding that both were "fairly satisfied" with that arrangement.

Russia, China agree 30-year gas deal via new pipeline, to settle in euros

Russia has agreed a 30-year contract to supply gas to China via a new pipeline and will settle the new gas sales in euros, bolstering an energy alliance with Beijing amid Moscow's strained ties with the West over Ukraine and other issues.

www.reuters.com

The fact that the entire gas pipeline deal is supposed to be settled in Euros, not in U.S. Dollar, makes it strategically at least twice as important.

 

[tower9]

The fact that the entire gas pipeline deal is supposed to be settled in Euros, not in U.S. Dollar, makes it strategically at least twice as important.

Why aren’t they using rmb or the ruble?

 

[Globenim]

Why aren’t they using rmb or the ruble?

For the same reasons the USD was used before? Because it has a neutral effect on currency holdings for both countries? Because it doesnt fit into the plan how much to let the Yuan appreciate over the next 30 years?

 

[Titanium100]

Russia, China agree 30-year gas deal via new pipeline to supply gas to China​

February 4, 20227:39 PM GMT+8

The deal would be settled in euros, the source added, in line with efforts by the two states to diversify away from U.S. dollars.

• Russia already sells pipeline gas, LNG to China
• Gazprom to sell additional 10 bcm of gas to China
• Flows in new pipeline within three years, says source
• Russia at loggerheads with Europe over Ukraine

SINGAPORE, Feb 4 (Reuters) - Russia has agreed a 30-year contract to supply gas to China via a new pipeline and will settle the new gas sales in euros, bolstering an energy alliance with Beijing amid Moscow's strained ties with the West over Ukraine and other issues.

Gazprom , which has a monopoly on Russian gas exports by pipeline, agreed to supply Chinese state energy major CNPC with 10 billion cubic metres of gas a year, the Russian firm and a Beijing-based industry official said.

First flows through the pipeline, which will connect Russia's Far East region with northeast China, were due to start in two to three years, the source said in comments that were later followed by an announcement of the deal by Gazprom.

Russia already sends gas to China via its Power of Siberia pipeline, which began pumping supplies in 2019, and by shipping liquefied natural gas (LNG). It exported 16.5 billion cubic metres (bcm) of gas to China in 2021.

Russia-China plan new gas pipeline

The Power of Siberia network is not connected to pipelines that send gas to Europe, which has faced surging gas prices due to tight supplies, one of several points of tension with Moscow.

Under plans previously drawn up, Russia aimed to supply China with 38 bcm of gas by pipeline by 2025.

The new deal, which coincided with a visit by Russian President Vladimir Putin to the Beijing Winter Olympics, would add a further 10 bcm, increasing Russian pipeline sales under long-term contracts to China. read more

Gazprom gave few details about the deal in its announcement.

Russian gas from its Far East island of Sakhalin will be transported via pipeline across the Japan Sea to northeast China's Heilongjiang province, reaching up to 10 bcm a year around 2026, said the Beijing source, who asked not to be identified.

The deal would be settled in euros, the source added, in line with efforts by the two states to diversify away from U.S. dollars.

A CNPC representative did not immediately comment.

Discussions between the two firms began several years ago after the start-up of Power of Siberia, a 4,000-km (2,500-mile)pipeline sending gas to China. Talks accelerated more recently after Beijing set its 2060 carbon neutral goal, the source said.

"China's coal shortage last year served as another wake-up call that natural gas has its special value, that's why CNPC decided to top up with the new pipeline deal," the source said.

A CNPC representative did not immediately respond to a request for comment.

The pricing of the new gas deal will be similar to that of Power of Siberia, the source said, adding that both were "fairly satisfied" with that arrangement.

Russia, China agree 30-year gas deal via new pipeline, to settle in euros

Russia has agreed a 30-year contract to supply gas to China via a new pipeline and will settle the new gas sales in euros, bolstering an energy alliance with Beijing amid Moscow's strained ties with the West over Ukraine and other issues.

www.reuters.com

Who was supplying China with gas previously

 

[Beidou2020]

Why aren’t they using rmb or the ruble?

I was wondering the same thing but some say it is to drive a wedge between the US and EU.

 

[FairAndUnbiased]

Why aren’t they using rmb or the ruble?

this is a signal to the EU that their interests are still taken into account.

however, there is already RMB/ruble trade. I can't be bothered to be held to such a high standard of citing every little detail (unlike certain nationalities who get away with talking out their *** and never citing anything) but you can look the exact numbers up. They're in the ~50+ billion USD equivalent range.

 

[Han Patriot]

The fact that the entire gas pipeline deal is supposed to be settled in Euros, not in U.S. Dollar, makes it strategically at least twice as important.

Very smart move by the Russians, they nearly succeeded in destroying nato.putin is a dangerous man, Biden is like a lamb