India is resisting pressure from Russian oil suppliers to pay for crude imports in Chinese currency, as tensions between India and China continue. While Russia has a growing demand for yuan due to its reliance on China for imports, India mostly pays for Russian oil imports in dirhams, dollars, and a small amount of rupees. Indian refiners, which are mostly government-owned, would need to follow payment instructions from the finance ministry, and the government is unlikely to agree to using yuan as the main unit of transaction.from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/M4dqHmz
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