Billions in Russian oil sale profits are stuck in Indian banks, marking a blow to President Vladimir Putin’s attempts to stop using the U.S. dollar for trade.

Commodities such as oil, gold and wheat are typically traded around the globe in U.S. dollars, the world’s reserve currency.

However Russia’s financial system was essentially isolated by Western sanctions imposed after Putin’s invasion of Ukraine, making his country unable to make transactions in greenbacks, thus limiting trade.

  • surewhynotlem@lemmy.world
    link
    fedilink
    English
    arrow-up
    21
    arrow-down
    1
    ·
    1 year ago

    “Russia’s _____ not going according to plan” seems to be the running **theme ** lately.

    Only if you live in a propaganda bubble.

    So they said the theme is bad, you said no it isn’t. And now you’re saying you didn’t say that. And does that make you seem like a clear thinker? Someone whose opinion on the matter should be valued?