Top Indian refiners are using the UAE's currency instead of the US dollar to buy Russian crude, report says
Companies including Reliance Industries, Bharat Petroleum, and Nayara Energy are instead starting to use UAE's dirham, which is pegged to the US dollar.
The currency the Indian refiners use varies from cargo to cargo, depending on traders' preferences, according to Bloomberg., as greenbacks are the most widely used currency worldwide to conduct trade, especially for commodities like oil.
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