Why India is using Chinese Yuan payments for Russian oil imports, impact of Ukraine war & more
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- เผยแพร่เมื่อ 14 พ.ย. 2024
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Why India is using Chinese Yuan payments for Russian oil imports, change in geopolitics due to Ukraine war & its impact on Russian economy, and the transition from a global security order to a global digital order. Dr. Swasti Rao, Associate Fellow at the Centre for European and Eurasian Studies at the Manohar Parrikar Institute for Defense Studies and Analyses speaks to ThePrint's Keshav Padmanabhan. Watch #ThePrintVideo
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Very simple:
1. Russia is happy to sell oil to India at a discount
2. India is happy to buy oil from Russia at a discount.
3. Russia doesn’t want to be paid in Rupees because Russia can’t use rupees to trade with other countries. In contrast, Russia can trade using yuan. Therefore, Russia wants to be paid in yuan.
That’s it. Everything else is irrelevant. Don’t muddy up the water with this and that.
Not only Yuan is more desirable than Rupees is, China economy is 10x bigger than India and multiplying. It's a simple mathematics 😊. Until India can match China production powerhouse, no further argument is valid😁
Basically Russia doesnt have anything to buy from Indian, but it has lots to buy from China.
To start, if China did not buy Russian Oil, India ALONE would never dare to do it. So instead, India should thank China. Remember China alone bought Iranian Oil. They are fearless of US threats.
Simply Russia have too much rupee which is not accept by others thus Russia cannot utilise the rupee and again, india have limit goods to sell to Russia. If indian want Russian oil, either buy with Gold or Yuan which is accepted by all economy. In short rupee is not a widely acceptable currency of trade hence rupee is not a diserable currency in the world.
Yuan is not convertible too. In fact, Yuan is specifically designed not to be convertible so it won't be subject to international financial plundering. It is call the Financial Great Wall. Every dollar going in or out of China is subject to Chinese government control. So US Dollars flooding around the world can not be used for short term speculation on Chinese assets.
The REAL REASON that Russia wants Yuan instead of Rupee is because Indian can not produce anything. If you look at what India global trade composition is, you will realize that most Indian global trade is in grain, mineral and other natural resources. It is very little finished products to sell. And even for the limited amount of products they produce, the products are not for global trade but only domestic consumption as the quality is not competitive on internal market. It is so severe that Russians ended up trying to buy grains with those Rupees in the bank. But here is the surprise for them, India do not even have grains to sell. To finance Modi's demand for GDP growth, India has been aggressively pushing for more grain sell to international market, resulting in worse and worse for Indian nutritional intake. And they certainly don't want to give the grains to Russian in exchange for the useless Rupee.
So without even getting grains (which Russia already have plenty to begin with but something is better than nothing, right?), Russia has no choice but to demand that India to pay in alternative currencies that they could actually use to buy products. Thus the demand for Yuan. China PRODUCE ALMOST EVERYTHING in this world. And China does not care about the so called US sanction. So Yuan the perfect choice for Russia.
For India, this means they need to buy more Yuan from HK offshore accounts with hard earned US Dollars selling grains and minerals. So Russian oil is NO LONGER FREE with useless Rupee. But it is a still a good deal in such a huge discount. That is because India finally gets access to CHEAP OIL for its industrialization. For the last two decades, China beats India on almost all big oil contracts with China's deep pocket. Without CHEAP OIL, Indian is very difficult to push forward with its industrialization efforts, let alone becoming to the Global Supply Chain. No cheap oil, no cheap electricity, no industrialization, no globalization. Further, India can use the inflow of CHEAP OIL to build out its oil refinery and logistic capabilities, so they can be at least part of the global supply of refined oil and profit that comes with it. Therefore, no matter what the Russian demand is, India will have to meet it. And meeting it means using part of the refinery profits to buy Yuan and pay the Russians.
@jkuang Other reasons why nobody wants to hold on to droopy rupee: Confiscation, and/or Demonetization!!
Greedy CORRUPT Indian authorities can, on a whim, invent FALSE NARRATIVES and excuses to confiscate your droopy rupees from Indian banks, especially if your foreign-owned company has been profitable in local markets.
Or, RBI can suddenly, with little prior notice, demonetize certain denominations of your droopy rupee, allowing insufficient time to convert to new bills. It's too risky to hold such currency when the govt acts with impunity!
Russia doesn't want rupee simply because most country wouldn't accept it as payment. It can only be used to trade with India, but India doesn't produce goods that Russia want to buy. It's money that can't be used.
The trade deficit has to comedown for India to trade in Rupee-Rubal. Oil prices has fallen, US has dump 275 millions barrels from it’s strategic reserve but expect prices to raise again and Russian revenue will raise in second half.
Because India doesn't produces any goods.
@@studytime2570 The reason there's deficit, because India doesn't produce industrialized goods that Russia and other countries could buy.
with manufacturing sector growing, hope for the best. @0 years ago Software business was just taking off I reckon we will grow quickly.
*20 years ago..
Edit: Also, guess is the time is ripe for "BRICS basket of currency" plan. Lots of countries of the Global South are interested in that.
This lady expert can give so many tight slaps to Palki.. 😂
Palki …another pretty face.😂😂😂
@@soonpohtay4794 Palki pretty? You have an unique taste 🤣.. she is too toxic for me. ✌
@@bbharatillusion4574what slaps. Care to elaborate?
Palki is a presstitute. Her job is just to read the summary’s of problems and lip service it back to the public. She is not an academic like Swasti here! Comparing her is itself insulting.
Nobody can back up what they say. Only slogans ☺️
india wants russian oil, india pays as russia wants. russia wants yuan because russia needs chinese support for the struggle in ukraine.
india 'supporting' prc by buying yuan is amusing, in view of indian stirring up ill-will on the border with prc, but there is no morality in indian politics or foreign affairs, just a search for temprary advantage.
politicians are like that, unable to make long-term plans. that's part of the reason prc is surging ahead of india for the last 50 years.
ccp bot spotted.
fyi prc started hostility in border in may2020, thats a well understood fact.
It's not good for India when most Indians can't accept the hard true REALITY.
I think it's because most Indians have low IQ.
In most Indians' minds, there is too much hate-jealous toward their neighbor China.
The only solution is for India to have more goods that other countries want and export more goods.
@@studytime2570i don't think border issue should stop any economic strategy, both countries agreed to keep it low profile as they don't even use fire arm. Borders there will not be solved in hundreds years more, and it is hardly useful in terms of economy. China india that's 30b people just stop by this no mans land from moving forward?
How come this 'smart' economist didn't know that if russia runs out of rubbles, it can always turn on printing press. Silly to go buy rubbles back from others, using yuan to reduce deficit. Only possibility is when china tell russia , we got too much of your rubbles, and don't know what to do about them, just like russia is telling India. I don't see this possibility from china
Hey Print, please get this lady to come more... she is making more sense than most of your so called experts
"Bharat Illusion" 12july2020
weird guy on internet.
She does not make sense when you use your brain. De dollarisation is happening! Why look at meetings happening in us congress about it. Why jennett yellin visited china? Why then is there a need to containe china and why are there rand corporation war papers on a dateline of 2027 or else it will be too late as the cost will be too high for usa.
How come this 'smart' economist didn't know that if russia runs out of rubbles, it can always turn on printing press. Silly to go buy rubbles back from others, using yuan to reduce deficit. Only possibility is when china tell russia , we got too much of your rubbles, and don't know what to do about them, just like russia is telling India. I don't see this possibility from china
@@biggpicture2930 China can always buy oils and gas, fertiliser, wheat from Russia with rubles. Russia really cannot buy anything with the useless rupees.. 🤣 electronically, the bloody rupee cannot be transferred to Russia too. Useless
I will trust an Indian economist over you moron anytime of the day.
NOT a neutral analysis, pro Indian biased analysis,
India will work itself into the sharp point of the cow horn..
Don't want to use yuan yet against a common BRICS currency amongst itself Russia n China. Love Russia, hate China , but China and Russia are besties. 😢 Trying to friend USA... feet in two boats . Singing two tunes... 😢😢😢
There were some really good points regarding Russia's strategy of not letting the Rouble weaken as well as Russia selling Yuan.
China is all about weakening India in any way possible. It gets to strengthen its position over both Russia and India by making the payments in its currency. Now China owns BRICs.
Those were good points about the impotence of indian rupees
@chillxxx241 Idiot Indians will want to join brick. Smart Indian will want to join the west. The west will use fiat currency and the most used currency wins. No chance for India to pay in rupees. Using yuan is only temporary, with a brics currency, you settled country's account in gold. So if india have a net positive trade, it will collect much of world's gold. otherwise you run out of gold. With usd as the world reserve currency , you only collect USD with a positive trade , but usd can always be easily printed . In the end India will end up with so much usd, but there is always more yet to be printed. Lone India can always be easily contained to be a slave state like Japan, so it will not be able to rebel like china.
Are you an Idiot or smart Indian?
Sure... China isn't the one in the quad to hold all of Brics down. Indians don't care because they want to get china's position
@@chillxxx241 you're like an American with their exceptionalism and double standards. You accept the moves India does to China and Brics as a whole and think that acceptable but when people start moving away from those foul and untrustworthy traits you take it as an attack on you. A true student of the west you are.
Why nobody mention that India is earning lots of euros with Russian oil and India can use some of that to pay Russia with whatever currency they want ,which is Yuan since usd and euros are shut to them.
Absolutely no negative effect on the rupee.
Problem is Euro cannot be transfer due to currency sanction European Union. No cross border is possible. Pay cheaper with Yuan or pay 3x the price with US oils
Russia can only buy so much from India….what can India sell? China on the hand can sell a vast amount of consumer goods to Russia.
No you don't understand, the United States struck a deal with India. India would not covert Russian India rupees into US dollars and Euros. That would be like money laundering. Which is what Vladimir Putin was hoping for. Putin was hoping that Turkey was do that as well, but again the EU and America struck a deal with Turkey. So Russia cannot covert the the Turkish lira into Euros and US dollars.
@@mandarinandthetenrings2201 so the BIG Mafiosi had spoken...
@@soonpohtay4794 First you Indians make make me laugh. When British was smothering China in "Heroin:, where was it grown? Oh yea India. And then when the British took that Chinese Silver for being the "Pablo Escobar" of the East they used it to give to your MahaRaja's and you over here pretending that you didn't know where all that British Silver was coming from? LOL 😊
@@soonpohtay4794 You Indians make me laugh, you only pretend to "Virtuous". Look at the scams you run on other countries, and then run you country like a "Mafia State" and then complain about others. How many "Babu's" did your Father had to bribe to get ahead Indian? LOL hahahahahahaha 😊
Russia and China military alliance will eventually happen....the time is not ripe yet
along with Iran，that's what American strategist brzezinski has warned in his book.
If India join RCEP & BRI, then it would increase its INR strength. Since India don't like competition, it's does not offer very competitive products & services to the global south.
because Rupee interchangeably is very very poor. lucky you have China to help out with their Yuan...otherwise, you got no cheap oil
Russia can only do so much charity. Especially when India isn't s team player and made that abundantly clear.
The non-convertability of the Rupee, Ruble, Yuan is why a Brics currency is needed and will happen. A Brics currency backed by gold will be stable. Buying the BRICS will be the same as buying gold, except the ledger will be blockchain so it's transparent and electronic so transfers are fast and low cost. (or zero cost) to users. It will also be voluntary. But every country that wants to avoid using the dollar will start using it. And this might represent 40% of global GDP. India can continue to trade with the dollar. And all trade with the US/EU will be with the dollar/euro for a while. India has an obsession with China, nothing to benefit China and in fact avoiding any win-win bargin. That and the corruption within India is what keeping the india economy down.
The whole idea of BRIC currency is not an invention of China or Russia. It was John Maynard Keynes who proposed such an idea at Bretton Woods in 1944. That no national currency should be the world's reserve currency. As it happened, Keynes was overruled by the US.
USD is dominant in financial transaction. RMB is now almost 12.5% of world's goods trading. More and more tranactions are now outside the SWIFT system. Rejecting the BRICS currency will only push BRICS's member to trade in RMB ... not wise.
Love to hear about her book
Russia does not want the useless USD. Rupee is not easily convertible.
Ask the Russians, why Indians rupees can't be used, even in India.
Question is - How much of the Russian oil is paid using Yuan by India? Is it trending upwards?
Yes
Not all it's like 40%
Its no big deal. Can be managed.
Russia already said it has hundreds of billions of INR which they can't use.
So, put yourself into Russia's shoes and think if you would accept more billions of INR ？
China and Russia trade is almost balanced. Unlike India which has a large trade deficit with both China and Russia.
@siddharthsriram2685 The Chinese Yuan is not pegged to the United States dollar. It was pegged from 1994 to 2005, but in 2005 China made its currency a floating exchange currency.
Palki left the chat.
I am okay with this. But where is the Bhakt nationalism & outrage 😂😅
India don't wanna join anything becoz of China ! What attitude is this ! Why not plan for long term and try and solve border issue. How long we need to live with this border problems where there is no solution but only to increase other problems.
So many Indians want to trade with China , study in China and so on , what is government doing to facilitate this. Even direct flight not available between India China. What kind of governance is this. Only hubris and fake strong manship but in reality losing inch by inch every day. Very poor foreign policy approach.
The flights need to be blessed with cow dung first
The BJP hopes to use Hinduism to draw in the non-Muslim population within the country. Simultaneously, they need an external enemy to constantly apply pressure on the Indian public. It's not hard to see why various Indian media outlets are always broadcasting China's hostility towards India, while India itself keeps sending out "strong" messages to China. China, being this external force, is an excellent choice. Any hint of discontent with China excites the Indian populace, making it an effective diversion from domestic issues. As an Indian, you'd be able to understand more deeply what's happening within India whenever a China-India issue arises. Take the RCEP for instance. The reason for India not joining the RCEP is simple - India hopes to be treated on par with Myanmar, especially in the realm of agriculture, while not wanting to open its market to other member countries like a "big country". However, BJP's final explanation chalks it down to China. So, the issues between China and India don't lie within China. It's more about the Indian government's use of this strategic tool.
CCP does not want to to solve the border issue. In fact they have reneged on agreements going back to '93. The Modi govt is absolutely doing the right thing by keeping them on edge until they return to the negotiating table. It's a testament of Indian strength that we have and will continue this posture.
So many CCP bots and trolls here. 😁
@@gaosunibuIndia is doing quite good without RCEP and BRI. Please save Pakistan, Sri Lanka and Bangladesh from bankruptcy please. They trusted your BRI hype.
Thanks for this episode. She knows what she talks, definitely.
🏅🥇🥉🎖🥈👍
Namaste n Namaskhar everyone. Too notched substance in discussiin.
Thank you both for this vital discussion giving us non-financial people a grasp n comprehension with greater clarity.
WELL DONE!!
1. Both Rupee and Ruble are nonconvertible!! So when Russia has a huge credit balance in rupees, it makes sense for India to import goods required by Russia from other countries and supply them to Russia. Just like India is buying oil from Russia and selling to Europe. This serves the interests of both countries. One of the ports in India can be designated for this switch trade. Of course, it would be ideal if India develops the capacity for products required by Russia. 2. Even if some Yuan is used for payment once in a while, it is not a strategic choice and it could be a routine matter. 3. Ukraine war has opened up some interesting opportunities for India and we should take full advantage of them.
Yes, but you also missed a major point Indian government will not, I repeat will not go into deficit spending to print more Rupee for other countries to use outside of India. Which means the Indian rupee is not very liquid. So you use what ever currency is the most liquid. US dollar or at the times the Chinese Yuan. But if you use the Chinese Yuan you must get approval from Beijing first.
They buy weapon grade material from china, but india animosity towards china made it hard to get those to sell to russia. Also china will sell cheaper to russia. So Yuan must be!
She has deep knowledge about every subject...Very Much Focused,Crisp n Clear...Keep it UP
but very pro west.
judging from twitter threads..
Dr Rao is very intelligent and knowledgeable anylyst
Thank you a wonderful conversation. A parallel payment mechanism/mechanisms need to improve and get better.
The trade deficit has to comedown for India to trade in Rupee-Rubal-Yuan. Oil prices has fallen, US has dump 275 millions barrels from it’s strategic reserve but expect prices to raise again and Russian revenue will raise in second half
Hope for the best.
ultimately dedollarization is the prerogative.
@@studytime2570 umm you do realize that that the dollar being the global reserve currency massively benenfits india right?
@@poo-tinthedwarfbunkerb1tch535 how? Pls lay it out.
Please put the tag The American print so that at least it be true.
Great insights said with alacrity- have always found her perspective to be balanced and fresh- they seem to come from thorough granular research!
I read that India refused to use Yuan but suggested UAE's currency.
The Dr is too long-winded, and saying extremely little.
I think your denial mode or not able to accept that china dominance is strong and everywhere it is not like you are trying to stop china dominance it is more looking like you are more in isolationist from china dominance
Great analysis
You must get her on the show more often , she has incredible insights and yes can the interviewer stop waving his arms while asking the questions
How come this 'smart' economist didn't know that if russia runs out of rubbles, it can always turn on printing press. Silly to go buy rubbles back from others, using yuan to reduce deficit. Only possibility is when china tell russia , we got too much of your rubbles, and don't know what to do about them, just like russia is telling India. I don't see this possibility from china
However please do check the fact at 14:37, from what we hear in other reports is that the cost of oil extraction in Russia is amongst the lowest. How can Russia even sell this Ural crude at a lower price than Brent for us to buy it instead of the Brent given the cost of transport from Russia is also higher than from West Asia.
No that not true. Saudi Arabia has kept up with technology in it's oil fields so it cost them about $20 dollars per barrel of oil to extract. But Russia is using 1960's technology it cost them over $50 dollars per barrel of oil to extract.
@@mandarinandthetenrings2201 Then how is it selling at a price lower than KSA ?
@@jaydeepgadhavi5465 Russia is selling at a lose because their economy has totally crashed. Remember, Indian, India and Russia don't have much of economy. Russia has no and I mean no "Consumers" in Russia their entire economy is dependent on exports it has no choice but sell at a discount otherwise they don't any money. America on the other hand has 12 trillion dollars in consumer spending. It doesn't need export money.
@@jaydeepgadhavi5465 This why you Indians don't understand "Capitalism". In order to have a great economy you need to see "Consumerism" you Indians have almost none of as well. We have massive sport professional events and arenas. Russia, China, and India has nothing. We have Football, Baseball, Basket Ball, Hockey, and race car driving. Americans have video game E-sports. What does Russia have nothing and neither does India. Without consumer spending your economy is always going to be dead.
@@jaydeepgadhavi5465 I see Indians celebrating when major factories come to India. That great but what you just want make stuff for other countries??? What happen to India is going to be independent? You want to be Independent then you need to more "Consumerism" a strong home market is what allows India to be self-sufficient
16:28 'nothing like a contract, all adhoc ' comment is a stretch I think. There has to be a contract in place even now to buy the Russian oil but may be more stringent clauses of min amount cap needs to be there.
Thank you, this is really insightful, i learnt a lot.
itne mein main tere ghar aake terko presentation de dunga...
Dear Vitthal,
The trust and affection of viewers like you keeps us going. Thank you for generously contributing towards ThePrint's journalism. It is invaluable.
@@rakeshs9678 🤣🤣🤣
very pro west narrative.
How come this 'smart' economist didn't know that if russia runs out of rubbles, it can always turn on printing press. Silly to go buy rubbles back from others, using yuan to reduce deficit. Only possibility is when china tell russia , we got too much of your rubbles, and don't know what to do about them, just like russia is telling India. I don't see this possibility from china
Putting foreign reserves in gold is a good idea
Very informative episode!!
Why can't gold be an option ?
Because Gold is a finite resource and it's difficult and expensive to transport
so beautiful. i fall in love with the flower
Thanks Swasti Mam. I really appreciate your deep knowledge and great analysis.
-JAY DESAI
Research Associate, Centre for Air Power Studies
Abe yahan bhi networking karega. Kahin toh thand rakh.
Good god Where is your brain? Research center? How come this 'smart' economist didn't know that if russia runs out of rubbles, it can always turn on printing press. Silly to go buy rubbles back from others, using yuan to reduce deficit. Only possibility is when china tell russia , we got too much of your rubbles, and don't know what to do about them, just like russia is telling India. I don't see this possibility from china
Modiji will make indian ruppe a world reserve currency. Then whole world will use indian rupee for all transactions. 😂😂😂
De Dollarization is not happening because Indian Swiss kings own the Dollar now. They don't want to loose their investment. But these people should know that any data comes from the west is well cooked for their their taste. The exchange rate for the paper $ is 85
now. If they spice it up we can pay 150 in next 5 years. I wounder what will be the value of the INR if they include the brain export in the GDP.
We have been hearing about Indian culture of having the crab mentality, where as chinese are the opposite. With this dedollarisation issue, I am seeing it's quite true. India will try derail the dedollarisation if this will make yuan stronger even if it will help India too...
She is too gud, but needs to speak slowly so that she can catch her breath.
I think India should pay in Yuan, because stronger Yuan, would make Chinese imports costly, and protect Indian industries.
I think the sooner the BRICS have a common TRADING currency the better. India needs to produce items Russia wants.
Can't BRICS has no liquidity. You have to understand Indian rupee is not very liquid, so it has to use the Chinese Yuan because it has a little more liquidity were as Indian currency. So it either you use US dollar or Chinese Yuan because it is available.
Just like when the British attacked the 13 American colonies in the America Revolution in the 1770's. America had to use the British Pound Sterling because it was more liquid. 80 years before that in 1701 when the British and Spanish were fighting in the "Spanish War of Succession" the British ran out of money so the had to use the Spanish currency. You use that is the most liquid currency on the market, it as nothing to do with "Nationalism".
Right now, Yuan acceptability is getting very strong. Even Rio Tinto , an Australian mining giant is accepting YUAN. I see Brics' currency is a concession to India and others. However, it will erode USD much more quickly. Otherwise Yuan, USD, Euro , Sterling will still rule the world. Rupee will still be not wanted
Very beautiful and interesting. She knows well
rupees have losts its value 20x since used and this year alot devalue 10% already
as per her opinion best thing for India is keep all options open ...very nice ,but how long ...😅
Stay with China-Russia side and support the fall of dollar, get ready to be the economic slaves of China.. Imagine doing trade, borrowing and paying in Chinese yuan everyday by the indian govt
There is way out of it, buy discounted crude oil from Russia using rupee-rouble mechanism, we are already refining the excess Russian crude oil after meeting our domestic needs and we are selling refined oil products like diesel and petrol to western countries at a premium, in exchange we should buy should dual use high technology goods from western countries and sell it to Russia at a premium which are in high demand in Russia, thus making profit at both ends and also thus balancing the trade deficit between India and Russia and thus making Rupee a usefull currency in bilateral trade.
The Russian don't want your money because the Chinese want touch it.
You must be joking, right? Rupee-Rouble mechanism is dead. Russians aren't interested. Secondly if India buys sanctioned goods from the West and sells them to Russia, West would stop selling them to India.
but who will bell the cat. wishful thinking is as good as total Ignorance
@@elliotalderson2007 not whishfull thininking a hard reality, china, saudi-arabia, uae, turkey, Georgia, Kazakhstan are doing this very same thing.
Just face it. Rupees not good to use with saudi/arab or china. Now not good for russia!
India is dirham.
very old news - its late to discuss such things now
👏👏👏👏
Can someone give me the good reasons why Rupees is more valuable than Yuan? Please don't tell me it convertible 😊. Other option here for India is buy oil from US with Rupees 3x the cost and this will end the argument. Or is it?
Modi ji's chanakya niti!
The guy literally wants to stare at her all the time
中国是朋友 如果我们不通知他们 anyway we dont have any money to develop Ladakh and its getting more and more clearer that china will take it they are building a lot of infrastructure and political will.
Free Tibet, Free East Turkistan
Central Asia ❤❤❤
Mutlab to put shortly our Position Neither here nor there.. weak links never take sides 😂
In fact, it's the strong ones who don't take sides. They carve their own way. It's a long winding road, but a sure one to make you stronger in the long run. India has always looked at the marathon, not a 100m or 400 m race.
5-0 rein minh bee credited to a lovely ccp worker❤
..for this lovely comment❤
India's ruling class's extreme cowardice has resulted missing the most golden opportunity of mass in super massive scale expansion of manufacturing processes in India, by not sending billions of dollars worth manufacturing materials to Russia in Rupee-Ruble trade. Due to extreme foolish cowardice n buckling to the ground under US-UK pressure of India government, India could not send any manufacturing goods in spite of repeated Russia request. Now through these massive Yuan, now Russia will import in massive scale all it's manufacturing products need.
War costing $ 9-10 trillion ? What nonsense., is this woman for real? Superficial analysis, She’s only stating the obvious….
Q. where is india getting yuan as india has $100b trade deficit w. China ? Paying in dollar and buying from China..
Paid in gold bars, yuan or no oil simple as that or go exchange other currency that Russia want besides the useless ruppes
as a indian, i feel really really shame if indian pays russian oil using china yuan
Then you don't understand currencies and how it works.
Because china a super super power 😂😂😂
🇨🇦🇨🇦🇨🇦🇨🇦🇨🇦
India uses Yuan because our currency is very strong it might de stabilize the market if we used it and also it's the season Of Make in India so nothing new out here,I mean Make in India is another word for Made in China so .what's the big talk.
SUGGESTION: Russia can also use the Indian Rupee to increase purchase n procurement of India made products, especially in INDIA MANUFACTURED MILITARY USE weapons n gears. If the traditional commodity in imports from India is not yet significant inntrade volumes.
Since currently India n China relations is in the best state.
Russia Buying weapons from India??? Your weapons industry was built influence of Russian technology to support all the weapons India bought from Russia... Russia was India's main supplier of weapons. So what weapons did India want to sell to Russia???
18
Modi has to crawl on all fours. 🤣 Aur phenk🤣🐷