China Russia Agree on $25 Billion Prepayment on Gas Deal

Russia and China have agreed on a $25 billion prepayment under a supply deal signed earlier this week, Alexander Medvedev, chief executive of Gazprom Export, said on Friday.

“A prepayment has been agreed, agreed in principle, details are being discussed. It’s $25 billion,” Medvedev told journalists on the sidelines of the St Petersburg International Economic Forum.

Russia and China signed a 30-year gas supply contract, worth a total of more than $400 billion, earlier this week during President Vladimir Putin’s visit to the country.

via Reuters

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza