Lanxin Xiang is professor of International History and Politics at the Graduate Institute of International and Development Studies Geneva, Switzerland. He is also director of the Centre of One Belt and One Road Security Studies at the China National Institute for SCO International Exchange and Judicial Cooperation in Shanghai, China.
India is reportedly planning to buy Russian oil at discounted prices and even considering the Chinese yuan as a reference currency in an India-Russia payment settlement mechanism, a move that Chinese analysts say represents the growing frustration among world economies over the US-led sanctions against Russia that have rattled global markets.
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