menu search

Indian refiners have begun paying for Russian oil via Dubai traders in UAE dirhams

Indian refiners have begun paying for Russian oil via Dubai traders in UAE dirhams

An interesting weekend item from Reuters about oil, but also about circumventing trade payments in the dominant USD - helping Russia to de-dollarise its economy.

  • Indian refiners have begun paying for most of their Russian oil purchased via Dubai-based traders in United Arab Emirates dirhams instead of U.S. dollars
  • India's top bank, the State Bank of India (SBI), is now clearing these dirham payments, the sources told Reuters

Read More

Posted: Feb 4 2023, 04:20
Author Name: forexlive
Views: 110594

Search within

Pages Search Results: