As India frowns on paying for Russian oil with yuan, some payments held up.
Introduction:
Some payments were delayed because India disapproves of paying for Russian oil with yuan.
Due to the fact that state-controlled Indian refiners are still receiving supplies from Russian companies like Rosneft despite the payment dispute, other payment methods are being sought.
Some payments were delayed because India disapproves of paying for Russian oil with yuan.
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Indian refiners purchased the discounted petroleum after some western countries banned imports from Moscow due to its invasion of Ukraine, making India the leading buyer of Russian seaborne oil this year.
But since the US and EU placed a price restriction of $60 per barrel on Russian oil, forcing purchasers to utilize substitutes like Emirati dirhams for shipments that have risen above the cap as oil prices have risen, refiners frequently encounter issues when settling oil trade with Moscow.
According to a July report from Reuters, Indian refiners started utilizing yuan to pay for certain oil from Russian suppliers while continuing to settle the majority of their transactions in dollars and dirhams.
The post Russian oil with yuan. appeared first on ASWGROUPINDIA.
The post Russian oil with yuan. appeared first on ASWGROUPINDIA.
