The first transaction was made for the purchase of oil by New Delhi India and the United Arab Emirates have started settling energy trade in rupees and dirhams under the so-called Local Currency Settlement (LCS), with the first such transaction taking place on Monday for the purchase of oil. According to a statement issued by India’s embassy in the UAE, Indian Oil Corporation made a payment in rupees to Abu Dhabi National Oil Company (ADNOC) to buy a million barrels of crude from the Middle Eastern nation. The transaction follows one made in July, involving the sale of 25kg of gold from a UAE exporter to a buyer
Hence then, the article about india and uae begin energy trade in local currencies was published today ( ) and is available onRussia Today ( News ) The editorial team at PressBee has edited and verified it, and it may have been modified, fully republished, or quoted. You can read and follow the updates of this news or article from its original source.
Read More Details Finally We wish PressBee provided you with enough information of ( India and UAE begin energy trade in local currencies )