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Gazprom Neft Selling Oil For Rubles, Yuan

Gazprom Neft CEO Aleksandr Dyukov (file photo)

Gazprom Neft CEO Aleksandr Dyukov (file photo)

Gazprom Neft's president has said a televised interview his company will sell its oil in rubles, and on Asian markets in Chinese yuan.

Appearing on the Rossia-24 TV channel on September 20, Aleksandr Dyukov said the company was already selling oil from its Novoportovskoye field, above the Arctic Circle, for rubles and "we are also selling in the Asian market for yuan."

Dyukov said Gazprom Neft had signed supplementary agreements with "practically all our crude and oil product customers" to start selling oil for euros "at any given time."

The oil wing of Russian gas giant Gazprom has been hit with Western sanctions over the Kremlin's role in Ukraine.

Dyukov admitted that "three or four" foreign companies had pulled out of deals to develop Russia's Arctic shelf.

But he said, "The sanctions will cause some inconveniences but aren't critical."

Based on reporting by ITAR-TASS and Interfax