According to Reuters, India has reduced the share of the dollar in transactions for the purchase of energy resources from Russia. However, a full transition to rubles for such transactions did not take place.
The publication notes that Indian companies mainly pay for Russian coal imports in Chinese yuan and Hong Kong dollars – traders explain the rejection of the dollar by the desire to avoid US sanctions.
Thus, in June, the yuan accounted for 31% of non-dollar payments for Russian coal, and the Hong Kong dollar for 28%.
The share of the euro was less than 25%, and the dirham of the United Arab Emirates – about 16%.
According to Reuters, Russia ranked third among coal exporters to India in July. In addition, in May, Russia became the second largest oil exporter to this country, overtaking Saudi Arabia.
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