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First rupee payment for UAE oil: India seeks more deals - no set targets

Last Update 26 December 2023

India's first rupee payment for UAE crude signals a push for global use of the local currency. Officials seek similar deals, emphasizing an ongoing internationalization process with no set targets. With over 85% oil dependence, India focuses on sourcing the cheapest options, diversifying suppliers, and meeting international obligations.

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2023

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