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Traders of Russian oil ask PSU refiners to pay in yuan
October 08, 2025
|Mint Ahmedabad
Western sanctions on Russia boosted Yuan use.
Traders offering Russian oil have begun asking Indian state refiners to pay in Chinese yuan, taking recent signs of improving relations between New Delhi and Beijing as a chance to simplify deals with Indian buyers, people aware of the matter said.
India’s top refiner, state-controlled Indian Oil Corp., recently made payments in Chinese currency for two to three cargoes of Russian oil, people familiar with Indian companies’ Russian oil purchases said.
Indian Oil did not immediately respond to Reuters’ request for comment.
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