Russian Sea investor, oligarch Timchenko threatens move away from US dollar counterparty settlements
SEAFOOD.COM NEWS April 15, 2014 -
PETROPAVLOVSK-KAMCHATSKY, Russian billionaire Gennady Timchenko believes it is possible to switch from U.S. dollars to rubles and the yuan in settlements with foreign counterparties.
"We are already holding negotiations with our counterparties [on switching to settlements in another currency].
"For a start, we're beginning to talk about switching to European currency, but considering that sanctions could come from there, this could probably be rubles. In the Chinese direction - the yuan. We've held such negotiations, we're ready for this and it seems that Chinese partners are also prepared to consider this seriously," Timchenko said.
He said the turn to China will show Europeans that Russia has other opportunities and other promising markets that are developing in the Asia-Pacific region.
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