REJECT RUSSIAN OIL! India Wants To Buy Venezuela’s Cheap Oil, But Demands Settlement in RMB #india

#china #chinanews #project #india #russian #venezuela #oil As one of Russia’s largest oil importers, India has purchased low-priced oil from Russia on a large scale in the past two years and resold it to Western countries, earning considerable profits from it. However, India and Russia have encountered some difficult problems in oil transactions this year. The fundamental problem is that Russia demanded the use of yuan to settle oil, but India resolutely rejected this proposal and even defaulted on billions of dollars in oil payments to Russia. Currently, the oil settlement issue between the two countries remains unresolved. According to European media reports, India has begun to look for more affordable energy supplies and hopes to reach an oil purchase agreement with Venezuela. Much to India’s dismay, Venezuela, which has been subject to U.S. sanctions in the past, has also begun using yuan for energy settlements. Moreover, compared with China, India’s market and reputation are not so attractive to Venezuela. So in today’s video we will explain why India is opposed to settling oil in Yuan? Will Venezuela compromise with India on oil settlement? ---------------------------------------------------------------------