India Begins Paying for Russian Oil in Chinese Currency, But Share Remains Small: Deputy PM

Updated 16 October 2025 09:30 AM

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India Begins Paying for Russian Oil in Chinese Currency, But Share Remains Small: Deputy PM

Moscow, Oct 15 (PTI) India is mainly paying in roubles for Russian oil, but has started payments in the Chinese currency yuan, Russia's Deputy Prime Minister Alexander Novak said on Wednesday.

"I am aware that such payments have started. I believe the percentage is small at present because payments are largely made in roubles," Novak was quoted as saying by the state-run TASS news agency.

Russia is among the top suppliers of crude oil to India.

According to earlier reports, India was mainly making payments for Russian oil in Indian rupees. 

This report includes content sourced from Press Trust of India (PTI), edited for clarity and context.

Tags: India Russia oil trade, Chinese yuan, Deputy PM, Russian oil payments, currency transactions, energy trade, India-China relations, oil imports, global trade, currency usage in trade