Countries like India, China, and Russia are making significant moves to reduce dependency on the US dollar in trade deals. India and China have opted for local currencies in imports, while Russia and China are using US dollar-backed stablecoins. India's Reliance Industries has signed deals to buy Russian oil in roubles, strengthening economic ties between the two countries.
From Reuters | Reliance Industries has signed a one-year deal with Russia's Rosneft to buy at least 3 million barrels of oil a month in roubles https://t.co/2PFG27FZMX
#India's Reliance to buy Russian oil in roubles, sources say #oott #Russia https://t.co/QNrCGzwUMb
Exclusive: India's Reliance to buy Russian oil in roubles, sources say https://t.co/bXeqcLIs6s https://t.co/CBpfO60wE6
⚠️ INDIA'S RELIANCE SIGNS RUSSIAN OIL IMPORT DEAL FOR 2024/25 FINANCIAL YEAR WITH PAYMENT IN ROUBLES, SOURCES SAY
⚠️ RUSSIA'S ROSNEFT, WHEN ASKED ABOUT DEAL WITH RELIANCE, SAID THAT INDIA IS A STRATEGIC PARTNER FOR ROSNEFT
RUSSIA'S ROSNEFT, WHEN ASKED ABOUT DEAL WITH RELIANCE, SAID THAT INDIA IS A STRATEGIC PARTNER FOR ROSNEFT
Russia and China commodity exporters are settling in US dollar backed stablecoins. So much for the BRICs currency. That never really had legs. https://t.co/MOxNuSWDcD
📣 JUST IN: India and China Eliminate US Dollar in Imports, Opt for Local Currencies 🌏💱 #BRICS #Trade 👉 Key Highlights: 📍 India and China ditch US dollar for import payments. 📍 Maldives confirms local currency payment arrangement. 📍 Move aims to strengthen economies,… https://t.co/S8GNUaApvf
Global demand for currency diversification is growing stronger amid negative spillover from #US Federal Reserve’s monetary policies to deal with its domestic economic recession. Over the long run, the #Chinese yuan is to compete with the US dollar and develop a substitute… https://t.co/xQAXqbZbeQ
#GTGraphic: Countries ramp up efforts to move away from dollar. #Dedollarization #FactsMatter @_ValiantPanda_ https://t.co/P6kWVTI3bC