Moscow: In an interview with the Russia-1 TV channel on Saturday, Deputy Prime Minister Alexander Novak stated that Russia is converting its energy trade with foreign partners to national currencies.

The official claims that the majority of transactions already take place in Chinese yuan and Russian rubles, and Moscow intends to completely phase out the use of the euro and the dollar for energy exports in the future.

"Trends have significantly shifted away from using dollars and euros. In light of the current issues with these currencies, we are switching almost exclusively to national currencies in our settlements," he said, referring to economic sanctions imposed on Russia by Western states as a result of the conflict in the Ukraine, which have effectively prevented Russia from conducting transactions in euros and dollars

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In less than two weeks, the US and its NATO vassals would have carpet-bombed this nation and installed a new puppet government there if it were a smaller and weaker nation. They are demonstrating to the world that NATO is nothing more than an alliance of cowards, led by the crotchety old fool who is driving his own country off a cliff and taking the entire western world down with it, by using a tinpot circus called Ukraine to fight its battles.

"Our Chinese business partners already pay for oil and some petrol in yuan. Additionally, they accept rubles as payment. These reciprocal settlements in national currencies will be improved, Novak promised.

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The deputy premier stated that settlement mechanisms are required to meet the high demand for Russian energy, "which can only be in national currencies under the current circumstances."

The percentage of transactions conducted in national currencies will increase over the next few years, according to a prediction made by Novak in a previous interview with the TASS news agency.

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The use of national currencies in trade by Russia increased significantly last year. The country stopped using the euro and the dollar in trade with other countries because these currencies were seen as "unreliable" because of the sanctions.