Reuters was first to report Indian companies are using Asian currencies more often to pay for Russian coal imports, avoiding the U.S. dollar and cutting the risk of breaching Western sanctions against Moscow. India has aggressively stepped up purchases of Russian oil and coal since the war in Ukraine began, helping to cushion Moscow from the effects of sanctions and allowing New Delhi to secure raw materials at discounts compared to supplies from other countries.
The post Reuters reveals Indian companies swapping dollars for Asian currencies to buy Russian coal appeared first on Reuters News Agency.
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