Putin Wants India to Pay Chinese Yuan for Russian Oil

In the Oil trade between India and Russia, China is going to make gains from it. Putin has ordered Russian Oil suppliers to take payments from Indian refiners in Chinese Yuan only. This is because Russia has to make huge payments to China for its colossal imports worth $115 Billion yearly. Earlier, India was paying in Indian rupees and Emirati Dirham but now Indian refiners are paying Chinese Yuan giving a huge boost to Chinese currency in the market.

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