Russia and China are switching to settlements in national currencies for supplies of energy resources, the payment for Russian gas is already made on a parity basis in rubles and yuan The Russian Deputy Prime Minister Alexander Novak said following a meeting of the Russian-Chinese intergovernmental commission, TASS reports.

"We are switching to settlements in national currencies - both in rubles and yuan - for supplied energy resources, mutual settlements that take place, including the supply of equipment from the PRC," he said. "As an example, gas supplies to date between Gazprom and the People's Republic of China are made on a parity basis in rubles and renminbi."

Novak also added that payments for supplies of oil and oil products are also actively switching to the national currencies of Russia and China.