Russia's fraught rupee oil trade is a warning for countries trying to abandon the dollar

• Heavily sanctioned Russia is facing challenges from its dedollarization drive.
• It now trades less than 10% of its oil using the greenback and the euro.
• But trading in alternative currencies like the Indian rupee and the Chinese yuan has its own issues.

Heavily sanctioned Russia is one of the loudest critics of the US dollar-denominated global financial order actively trading in alternative currencies.