Indian refineries ditch US dollar to buy Russian oil amid Ukraine sanctions - report

Indian refiners have begun paying for Russian oil in UAE Dirham instead of U.S. dollars, Reuters has reported. The news agency cited four sources with knowledge of the matter. The report said that Indian refiners and traders are concerned they may not be able to continue to settle their trade in dollars, especially if the price of Russian oil rises above the cap imposed by the G7 nations and Australia in December. Watch this video for more details. Hindustan Times Videos bring you news, views and explainers about current issues in India and across the globe. We’re always excited to report the news as quickly as possible, use new technological tools to reach you better and tell stories with a 360 degree view to give you a better understanding of the world around you.