India to embrace Arab ally's currency, ditch China's Yuan for Russian trade settlements - report

The Indian government has asked banks and traders to avoid using Chinese yuan to pay for Russian imports because of long-running political differences with its neighbour. Reuters citing govt officials reported that India, which has emerged as a top buyer of Russian oil as well as discounted coal, would prefer the use of United Arab Emirates' Dirhams to settle trade instead of Chinese Yuan. Watch this video for more. Hindustan Times, owned by HT Media Ltd, is one of India’s largest publications that provides unbiased news, analysis and features on politics, sports, entertainment, lifestyle and more. Hindustan Times delivers the news across all social media platforms, on the web, and at your doorstep.