India is buying petrol from Russia despite US sanctions, Photo: File
New Delhi: India has decided to pay for the purchase of oil from Russia in UAE dirhams instead of dollars.
According to Indian media, the Modi government has once again decided to pay for buying petrol from Russia in dirhams, the currency of the United Arab Emirates, and in this regard, the State Bank of India has also opened a branch in the Emirates.
It should be noted that India used to pay in dirhams, but this process could not continue for long and petrol was being bought in dollars, but now the use of dirhams has been started again.
Earlier, Indian traders had suggested that due to the limit imposed by G-Seven on Russian crude oil, the payment should be made in dollars within the specified limit, but the payment should be made in dirhams for purchases beyond this limit.
Indian businessmen also said that earlier attempts to make payments in dirhams had failed due to non-cooperation from UAE banks, but now the State Bank of India has started helping.
It should be noted that the major economies of Western countries have banned the purchase of crude oil from Russia at a price higher than 60 dollars per barrel, but India and China did not recognize these restrictions.
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