The increasing use of the yuan to settle payments could help insulate Moscow from the effects of Western sanctions imposed on Russia over its invasion of Ukraine
UltraTech Cement has reportedly paid for a shipment of Russian coal in Chinese yuan, raising questions over whether this will now become the norm. The .
India’s biggest cement producer, UltraTech Cement ULTC.NS, is importing a cargo of Russian coal and paying using Chinese yuan, according to an Indian customs document reviewed by Reuters, a rare payment method that traders say could become more common. UltraTech is bringing in 157,000 tonnes of coal from Russian producer SUEK that loaded on the .