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CryptoSat

🇮🇳 India Ditches US Dollar for Iranian Oil


India has started settling payments for Iranian oil in Chinese Yuan instead of US Dollars.
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Stop-LossLineForTheEveningGlow
· 1h ago
Is this move by India to bypass sanctions risks? Settling in CNY is indeed easier to handle.
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NFTeaTime
· 1h ago
The US dollar is not being "abandoned," but rather replaced in specific scenarios; the key is whether the scale can continue to grow.
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Mirror-FinishTeacupWith
· 1h ago
If the U.S. increases secondary sanctions, will India waver again? Geopolitical tug-of-war probably can't be avoided.
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GateUser-b665e41c
· 2h ago
This also indicates that the penetration rate of the Renminbi in bulk commodities is increasing. Will on-chain stablecoin settlements also take off accordingly?
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MetalReliefRoboticArm
· 2h ago
It feels like the world is moving toward a "multi-settlement system coexistence," with the US dollar still strong but no longer the only option.
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HotAirBalloonCrossingMountains
· 2h ago
What to do after Iran starts using RMB? Buying Chinese goods, exchanging for gold, or going through the offshore market—these are the upcoming points to watch.
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NeonIceMelt
· 2h ago
India plays its cards well: it secures oil supplies while minimizing reliance on the U.S. dollar system, avoiding being chokepointed.
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TreatMemesAsBeliefs
· 2h ago
If more countries settle energy transactions in CNY/local currency, the structure of traditional foreign exchange reserves may gradually change.
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ShortPositionsAtTheElevator
· 2h ago
The question is how to hedge the exchange rate and settlement channels, and whether it will make things more complicated for enterprises.
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