Context
Indian refiners have reportedly started using Chinese yuan to pay for some of their oil imports from Russia. This shift comes as Western sanctions against Moscow and its customers make it necessary to find alternatives to the US dollar for settling payments.
Background
The changing payment method
Will India continue to use yuan?
Is the world moving towards de-dollarisation?
De-dollarisation refers to the replacement of the U.S. dollar by other currencies as the global reserve currency. |
How would it impact (if becomes reality)?
Positive side |
Negative side |
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