India Pays for Russian Oil with Emirati Dirhams Instead of US Dollars

by Chris Black

This is a complete disaster for the West.

A lot of the people predicting the end of the US dollar don’t exactly know what they’re talking about.

 I’m also predicting the end of the US dollar, but it is more complicated than simply cutting the US out of trade deals.

The reason it is more complicated is that China is seriously bought into the dollar. 

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As far as anyone is aware, China could not really tolerate a collapse of the US dollar. 

They’re obviously working on divorcing from it, but presently, that is how it is.

RT:

Indian refiners are now using Emirati dirhams instead of US dollars to pay for most of the Russian oil they purchase via traders based in the United Arab Emirates, Reuters reported last week, citing sources familiar with the matter.

The Indian authorities have not supported the measures against Russia adopted by the G7 in response to the conflict in Ukraine. The steps are aimed at cutting Moscow’s energy revenues.

 

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