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Several independent Chinese traders have been offered Russian crude in yuan to circumvent sanctions that prevent bank guarantees on Russian energy transactions in USD.
Bloomberg has reported that many Chinese traders have bought cargoes for May from Russia’s eastern ports, but didn’t confirm if the payments made had gone through in yuan yet.
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Indian lawmakers have said they will not pay for Russian oil in rupees yet, although the two countries are working on a ruble-rupee payment system alternative to SWIFT.
