India, like its traditional rival, has started paying for Russian oil in the Chinese currency, Yuan.
Russia’s military campaign in Ukraine has changed global trade trends for exports, with India emerging as the largest buyer of Russian oil even as it defies Western sanctions. Ready its to pay in the currency of its rival country China.
In the past days, Pakistan used to pay oil to Russia in the currency of its long-time friend, China, in Yuan, after which Indian refiners have started paying in Chinese Yuan for oil imports from Russia.
It should be noted that in response to the sanctions imposed on Russia by the Western countries, Russia had decided to take payments in the currencies of friendly countries instead of dollars for the purpose of payments from oil buying countries.