Indian refineries have started paying for oil supplies from Russia in yuan

It is also reported that Indian companies make part of the payments for Russian oil in dirhams.

Indian refineries have started paying for part of Russian oil supplies in yuan. This is reported by Reuters with reference to a government source.

Some refineries pay in other currencies, such as the yuan, if banks are unwilling to settle in dollars. The Indian Oil Corporation oil refining company, the largest buyer of Russian oil, in June 2023 became the first state-owned enterprise to pay for part of the oil imports from the Russian Federation in Chinese currency.

In addition, Indian companies are already making part of payments for Russian oil in dirhams.