India moves away from the dollar in payments for Russian oil
India pays for Russian oil, temporarily exempted from US sanctions, in rupees into special offshore accounts of Russian suppliers, Bloomberg has learned . There they are converted into other currencies - UAE dirham, yuan, and in the future, Singapore and Hong Kong dollars. The main thing is that Russian companies would like to maintain the “dollar-free” scheme further, after the likely return of sanctions. And it looks possible: some Indian banks are now participating.