Russian Deputy Prime Minister Alexander Novak said on Saturday that Russia would continue to accept payments for energy exports in Russian rubles and Chinese yuan. Russia is downgrading trade and cultural ties with the West after imposing a wide-ranging package of sanctions since the start of what it calls a "special military operation" in Ukraine in February 2022.
The reason for Russia's moves to abandon dealing with dollars and euros was the West's seizure of about $300 billion, or half of Russia's international reserves after Moscow sent tens of thousands of troops to Ukraine last year.