Remove Chinese Remove Coal Remove Financing Remove Ukraine
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Ukraine state oil and gas company signs $3.656B credit agreement with China Development Bank to finance substituting natural gas with coal

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The Ukraine state oil and gas company Naftogaz signed a US$3.656-billion credit agreement with the state-owned China Development Bank to finance the program of substituting natural gas with locally produced coal. The program is aimed at improving Ukraine’s energy security and alleviating dependence on foreign natural gas.

Ukraine 236
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Opinion: The End Of An Era: Is The US Petrodollar Under Threat?

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The reasons for the cozier relationship between the two giant powers are, of course, rooted in the Ukraine crisis and subsequent Western sanctions against Russia, combined with China’s need to secure long-term energy supplies. However, the Chinese have a problem in their plans for the yuan.

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