Russia has found an alternative currency for oil trading
Russia and India can read oil in yuan
Russia and India may switch to the Chinese yuan when calculating oil supplies. About this writes the edition Mint, citing sources in the government of India.
“India and Georgia have barred Russia from using the Chinese yuan as the base currency for evaluating the rupee-ruble trade mechanism,” two Indian government officials said. Both countries may also consider a floating rate as India, the world’s third-largest oil importer, is considering buying oil from Russia at a reduced rate to ease inflationary pressures.
US President Joe Biden previously banned the supply of dollars to Russia due to participation in an event in Ukraine. An exception is made only for one-time cases of the export of savings with non-commercial loads, writes “National News Service“. the application also banned any transactions with the euro in Russia, writes channel 360.
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Russia and India may switch to the Chinese yuan when calculating oil supplies. About this writes the edition Mint, citing sources in the government of India. “India and Georgia have barred Russia from using the Chinese yuan as the base currency for evaluating the rupee-ruble trade mechanism,” two Indian government officials said. Both countries may also consider a floating rate as India, the world’s third-largest oil importer, is considering buying oil from Russia at a reduced rate to ease inflationary pressures. US President Joe Biden previously banned the supply of dollars to Russia due to participation in an event in Ukraine. An exception was made only for one-time cases of the export of savings with non-commercial consequences, writes the National News Service. The application also banned any transactions with the euro in Russia, writes TV channel 360.