India’s Modi pays for Russian oil in Chinese Yuan
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The deal reflects the progress of de-dollarization among the BRICS countries, a process also occurring in Argentina
247 – a Columnist Nelson DSA, from Folha de S. Paulo, notes that Reuters reported that refiners in India have started payments in yuan for oil imports from Russia. The news was echoed in Indian newspapers, such as the Hindustan Times and ABB, and in the Russian press such as Kommersant and RT.
In China, media such as Guancha reported on this fact, adding in the analysis that “it is rare for good news to suddenly come from India.” According to the column, “more good news is coming from Argentina.”
Nelson de Sa reports that the Global Times and other vehicles welcomed the “extended use” of the Chinese currency by the country, which has chosen the yuan to make a payment to the International Monetary Fund (IMF), thus accelerating the internationalization of the yuan. The South China Morning Post highlighted as “another small step” the launch of Chinese currency accounts in Argentine banks. This news was highlighted by the media in Buenos Aires, such as Clarín, La Nación, mbito Financiero, as well as Renmin Ribao digital in Spanish and Diario del Pueblo.
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