Reuters: Russian oil supplies to India weaken dollar's global hegemony

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Reuters: Russian oil supplies to India weaken dollar's global hegemony

Deliveries of Russian oil to India weaken the global hegemony of the US dollar, since mutual settlements on them are carried out in other currencies. Moreover, before that, the American monetary unit over the past decades has almost completely dominated the global oil business, and all mutual settlements were carried out only with its help.

The author of an article published by the Reuters agency discusses this topic.

Russian-Indian cooperation in the oil business became especially close after the EU countries decided to impose sanctions against the Russian Federation and refused to supply oil from our country by sea. But, as they say, “a holy place is never empty”, and all oil raw materials from Russia, previously sent to Europe, began to flow to India, which brought this country to a leading position among consumers of Russian oil transported by sea.

But the worst thing for the United States is not the very fact of such a reorientation of supplies, but the fact that payment for them was most often made not in dollars, but in dirhams of the United Arab Emirates or Russian rubles. In response, America and Britain imposed sanctions on MTS Bank, which was involved in supporting such transactions. But this did not solve the problem, since Indian and Russian companies are already ready to simply temporarily change this bank to some other one.

As the agency notes, the point is not even that schemes of non-dollar mutual settlements in the oil sector are beginning to appear. The danger for the dollar lies in the fact that such a practice can become stable and habitual. This undermines the dominance of the dollar, and hence the financial power of the United States.
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  1. Maz
    +2
    8 March 2023 14: 45
    Death to the dollar, glory to India and China! Russia first! Glory to the Russian Defense Ministry and its heroes for a whole year or more - successfully conducting a special military operation in Ukraine to demilitarize and denazify the Kyiv junta. March 8 is symbolic.
    1. 0
      8 March 2023 14: 51
      Quote: Maz
      Death to the dollar, glory to India and China! Russia first!

      Everything is going well Maz !!!
      We fill up the dollar, the USA and other hegemony will disappear
      P..S. Here is where is Israel to move .. That is the question?
  2. +1
    8 March 2023 14: 50
    Deliveries of Russian oil to India weaken the global hegemony of the US dollar, since mutual settlements on them are carried out in other currencies.

    Yes. By the way, recently either a "duck" was let in, or a "bullet", but like - a lot of Indian rupees have accumulated in warehouses, but there is nowhere to put them. Interesting, lie? ... what
    1. +1
      8 March 2023 15: 18
      Quote: Vasyan1971
      Yes. By the way, recently either a "duck" was let in, or a "bullet", but like - a lot of Indian rupees have accumulated in warehouses, but there is nowhere to put them. Interesting, lie? ...

      One of the world's largest titanium deposits is in India.
      They say that it was precisely because of control over him that the States had
      dislike for Firtash, who "helped" VVP "squeeze" him from the Yankees.
      In addition to titanium, there are many other things in India. Don't worry. hi
    2. -1
      8 March 2023 15: 18
      Quote: Vasyan1971
      Yes. By the way, recently either a "duck" was let in, or a "bullet", but like - a lot of Indian rupees have accumulated in warehouses, but there is nowhere to put them.

      Most likely no. So far, the needs of purchases in Russia are determined not by the Gerasimovs, Prigozhins and Strelkovs, but by the Pugachevs and Galkins, who are waiting for the money to be allocated to them again for a luxurious life. For example, the Chinese are bombarding me with offers to supply powerful small-sized and light electric motors and auto parts to Russia, although I know that I have not bought anything like this over the past 10 years. foreign banks in the hope of getting a small kickback. Does this lady really not know that manufacturers of Chinese mining equipment and chastotnikov are ready to pay Russian partners about 20-30% of the final price for purchases from them. Or did she get a bigger kickback for the $300 billion she sold to the West? I can't believe that Uncle Sam gave her an honest part of her share, that is, more than a third, which is 100 billion dollars. Unfortunately, in Russia, during privatization, the management of industry fell into the hands of accountants, lawyers, bandits and parasites, who invest not in machine tools and scientific and technical personnel, but in furniture, personal cars, yachts, airplanes, apartments for management with secretaries.
  3. +3
    8 March 2023 14: 53
    Deliveries of Russian oil to India weaken the global hegemony of the US dollar, since mutual settlements on them are carried out in other currencies.
    . Seriously, is this the reason for the weakening???
    Breshet, selflessly, without stopping ...
    To list the true reasons for the destruction of the Bretton Woods system ... so they said, described many more than once. However, one has to be an expert to understand and reasonably discuss this.
  4. +2
    8 March 2023 15: 00
    Woe to those who have dollars in their hands and in securities, as well as woe to those who have a gold reserve in the United States.
    1. 0
      8 March 2023 15: 57
      Quote: Irokez
      Woe to those who have dollars in their hands and in securities, as well as woe to those who have a gold reserve in the United States.

      Glory to those who have a gold reserve in rupees and yuan!
  5. +3
    8 March 2023 15: 03
    Quote: Vasyan1971
    a lot of Indian rupees have accumulated in warehouses, but there is nowhere to put them

    there, the operator needs to obtain permission from the Reserve Bank of India (analogous to the Central Bank) for foreign trade operations in rupees. so there is some problem, but solvable
    1. +2
      8 March 2023 15: 13
      To sell for rupees, this is only half the battle, we need to buy something valuable, necessary for those rupees !!!
  6. 0
    8 March 2023 15: 21
    Quote: Maz
    Death to the dollar, glory to India

    Is it possible to add figures in addition to slogans? What is the share of Russia-India supplies in world oil exports. 0,5% or 0,6%. Cool!. Yes, and they sell a lot of things for bucks. And deliveries to India are lost at the level of errors. Yes, the collapse of the dollar !! lol No. hi
    1. -2
      8 March 2023 15: 55
      Quote: fa2998
      Is it possible to add figures in addition to slogans? What is the share of Russia-India supplies in world oil exports. 0,5% or 0,6%. Cool!

      I have a second question. What to do with rupees? Where to spend them? In India? So this is a natural exchange ......
      By the way, I will be downvoted now just like you. They do not like logic and reality here .....
  7. 0
    8 March 2023 15: 34
    We must quickly end the hegemony of the dollar
  8. 0
    8 March 2023 21: 09
    That's right, America was fattening at the expense of the economies of other countries.

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