RUSSIA WARNING! India Refuses To Settle Oil In RMB | Owes Russia $1.5 Billion #russia #india #oil

#china #chinanews #India #russia #oil #europe ✨✨✨✨✨✨✨✨✨✨✨✨ The U.S. dollar has long played a vital role in global trade transactions. In the past, most countries usually settled in US dollars, especially in the field of oil import and export. But now, the US dollar is no longer just an international settlement currency, it has even become a hegemonic tool in the hands of the US government. The United States often raises interest rates or imposes sanctions on certain countries, which has a negative impact on the world’s economy. Against this background, many oil-producing countries have begun to actively look for alternatives to the US dollar, and RMB has become one of the first choices for many countries for oil settlement. As far as I know, 29 countries around the world have chosen to use RMB for settlement, including France, Brazil, Argentina and the United Arab Emirates. However, not all countries are willing to use RMB for settlement. In 2023, Russia hopes to use RMB settlement when conducting oil trade with India, but India firmly rejected this proposal and defaulted on payment for more than 30 million barrels of Russian oil, totaling up to US$1.5 billion. So, why is India unwilling to choose RMB as the method of oil settlement with Russia? ----------------------------------------------