Sanctions imposed by the West on Russia are pushing the BRICS nations closer, said executives at the recent annual APPEC conference.
Meanwhile, India and China have also both ramped up their imports of discounted Russian crude since the war in Ukraine, with Moscow leapfrogging to become India's leading source of crude oil and accounting for"Everybody is irritated by the U.S. government, the U.S. Treasury sanctioning ...
But Fesharaki said that de-dollarization, or shifting away from trading in the greenback, is still a long way off."In fact, if any currency was offered to replace the U.S. dollar, the turbulence in the oil prices [will be] so dramatic. Nobody wants it actually."
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