Dollar Dethroned? India’s Use Of Chinese Yuan For Russian Oil Redraws The Global Financial Map
As India continues to purchase Russian crude oil despite Donald Trump’s additional 25% tariff, Indian refiners now have started making payments to Russia in China currency Yuan.Russian oil buyers have been avoiding payment by US dollar due to sanctions. India used to use Yuan to pay for Russian oil earlier, but it was stopped after the relation with China deteriorated. As a result, oil refiners made payment by dollar or dirham, which was then converted to yuan, as only yuan can be directly converted to ruble. But now Indian refiners can directly use the Chinese currency as relationship with China has improved.
Read more at: https://www.opindia.com/2025/10/india-using-chinese-yuan-for-russian-oil-redraws-the-global-financial-map/
- 13 Oct 2025
- WerIndia
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