"Payments in rubles and yuan are very promising. Switching to such a large-scale work means that the impact of the dollar on the global energy sector will objectively decline. This is not bad either for the global economy, or the world of finance and the world energy markets,” Putin said at a meeting of the APEC Business Summit.

“It will help expand our capabilities in mutual trade and influence both world financial and energy markets," the president said.

He added that Russia is considering letting Chinese investors into one of Russia’s huge winning companies, where settlements in yuan comes as one of the terms.

The day before Russia’s oil giant Rosneft and China National Oil and Gas Exploration and Development Corporation signed an agreement on the acquisition of a 10 percent stake at Vankorneft, a Rosneft subsidiary that develops oil in Russia’s Eastern Siberia.

Putin stressed that Moscow and Beijing aim for broader use of the yuan and the ruble in mutual settlements.

"In cooperation with the country [China – Ed.] we intend to use the national currency more widely in mutual settlements,” Putin said.

Putin added that making payments in national currency is planned particularly in oil trade. “Our experts are assessing such possibilities," he said.

"Much attention has been paid to the topic of mutual payments in yuan in a variety of areas, including such sensitive ones as military and technical cooperation. This will help to strengthen the yuan as a reserve local currency", said the Russian president’s spokesman Dmitry Peskov after Putin met with China’s President Xi Jinping on Sunday.