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

Tech Insider : Economy, Politics, Politics
Putin, Modhi
Russian President Vladimir Putin and Indian Prime Minister Narendra Modi.

Mikhail Svetlov/Getty Images

India's government is getting more uncomfortable buying Russian oil with Chinese yuan, putting payments in limbo

Tech Insider
Oil terminal ship in Russia

papa1266/Getty Images

Former Kremlin official blames the ruble's crash on Russia's stockpile of rupees that's stranded in India

Tech Insider : Economy

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A man counts Indian rupee banknotes in Varanasi, Uttar Pradesh, India.
A man counts Indian rupee banknotes in Varanasi, Uttar Pradesh, India.

Dhiraj Singh/Bloomberg

Key BRICS member admits the dollar will remain dominant despite oil deals in rupees and yuan

Tech Insider : Economy
US dollar

SimpleImages

The BRICS summit ended with no new currency and all 5 members issuing differing and contradictory commentary on de-dollarization

Tech Insider : Economy, Politics
President of Brazil Luiz Inacio Lula da Silva, President of China Xi Jinping, South African President Cyril Ramaphosa, Prime Minister of India Narendra Modi and Russia's Foreign Minister Sergei Lavrov pose for a BRICS family photo during the 2023 BRICS Summit at the Sandton Convention Centre in Johannesburg, South Africa, on August 23, 2023.
The BRICS summit wrapped up last Thursday with six new members but not a new currency.

Gia

Dedollarization suffers a blow as the greenback's share in global payments hits a record high

Tech Insider
An employee of a bank counts US dollar notes at a branch in Hanoi, Vietnam May 16, 2016. REUTERS/Kham
An employee of a bank counts US dollar notes at a branch in Hanoi

Thomson Reuters

China-based BRICS bank aims to de-dollarize debt by expanding local currency lending

Tech Insider
A worker arranges a signboard of the 15th BRICS summit outside the Sandton Convention Center in Johannesburg, South Africa, Aug. 17, 2023. The 15th BRICS summit is to be held in Johannesburg, South Africa, on Aug. 22-24.
A worker arranges a signboard of the 15th BRICS summit outside the Sandton Convention Center in Johannesburg, South Africa, Aug. 17, 2023. The 15th BRICS summit is to be held in Johannesburg, South Africa, on Aug.

India's central bank urges lenders to de-dollarize trade with the UAE using local currencies

Tech Insider : Economy
India rupee money cash
A trader counts new 2,000-rupee notes at a wholesale vegetable market in Bangalore, India

AP Photo/Aijaz Rahi

India just ditched the dollar and used its own currency to buy a million barrels of oil from the UAE

Tech Insider
A man counts Indian rupee banknotes in Varanasi, Uttar Pradesh, India.
A man counts Indian rupee banknotes in Varanasi, Uttar Pradesh, India.

Dhiraj Singh/Bloomberg

Russia says there's a problem with billions of rupees it has in India that need to be converted

Tech Insider : Economy
India Rupee Man
A worker at a fuel station checks a 500 Indian rupee note after filing a vehicle with fuel in Kolkata February 3, 2011.

REUTERS/Rupak De Chowdhuri

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