Reuters: India refuses dollar when buying Russian coal

Indian companies refuse dollars when buying Russian fuel. About it writes Reuters with reference to customs documents.

Indian buyers bought 1.7 million tons of coal from Russia in June, with local steel and cement producers paying for nearly half (44 percent) of the deal in UAE dirhams, Hong Kong dollars, euros and yuan.

The Chinese currency accounted for 31 percent of non-dollar transactions, while the Hong Kong currency accounted for 28 percent. Less than a quarter of supplies were paid in euros, and about one-sixth in dirhams.

As State Duma Speaker Vyacheslav Volodin said earlier, the world has begun the process of abandoning the dollar due to its lack of real goods and resources. According to him, the American printing press is not restrained by anything, and the US national currency is used by Washington as an instrument of political struggle.

Rostec CEO Sergei Chemezov, in turn, noted that more and more countries are following the example of Russia, refusing to pay in dollars and switching to national currencies. Partnership relations of states with long traditions of cooperation and mutual trust will certainly be strengthened, he stressed.

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