Indian companies are using Asian currencies more often to pay for Russian coal imports, according to customs documents and industry sources, avoiding the U.S. dollar and cutting the risk of breaching Western sanctions against Moscow. Reuters.
Indian companies are using Asian currencies more often to pay for Russian coal imports, according to customs documents and industry sources, avoiding the U.S.
Indian companies are using Asian currencies more often to pay for Russian coal imports, according to customs documents and industry sources, avoiding the US dollar and cutting the risk of breaching Western sanctions against Moscow.
Data showed the yuan accounted for 31% of the non-US dollar payments for Russian coal in June and the Hong Kong dollar for 28%. The euro made up under a quarter and the Emirati dirham around one-sixth of the payments.