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Home Import and Export

India And UAE Make History With Rupee-priced Oil Deal, Shaping The Future Of Global Trade – ARAB TIMES

Newsdesk by Newsdesk
December 31, 2023
in Import and Export
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This news has been read 974 times!

A refinery run by the Indian Oil Corporation in Haldia, West Bengal. In the financial year 2022-23, India spent $157.5 billion on importing 232.7 million tonnes of crude oil. — AFP

NEW DELHI, Dec 27: In a groundbreaking development, India, the UAE’s second-largest trading partner, has initiated its inaugural payment in rupees for the purchase of crude oil from the Emirates. This move signals a potential shift in global trade transactions away from the…



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