India’s State Oil Firm Pays for Russian Crude in Yuan

Date: 08 October 2025 - 21:10

News ID: ۱۴۴۴۳۳

NEW DELHI (Dispatches) – Indian Oil Corporation has begun paying for Russian oil in Chinese yuan, Reuters reported, marking a shift toward de-dollarization among BRICS+ nations.

Previously, traders converted payments into yuan to access rubles, but direct yuan payments now streamline the process. Russian oil remains priced in U.S. dollars to meet EU price cap rules, with yuan used for final settlements. The move comes amid deepening India-China ties and rising U.S. pressure.