Indian oil refiners have currency settlement problem with Russian exporters – Reuters ...News

New Delhi has become the leading buyer of Russia's seaborne crude since the EU suspended direct imports India's state-controlled refineries have been hesitant to use the Chinese yuan to pay for Russian oil imports due to higher fees for currency conversions, Reuters reported on Monday citing people with direct knowledge of the matter. The issue has reportedly led to delays in payments for at least seven shipments. Some payments for recent cargoes delivered to at least two state refiners have reportedly been pending since late September. Indian refiners buy most of their Russian oil from third-party traders, while

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