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News & Current Events Apr 17, 2026 at 10:05 PM

Indian refiners pay for Iran oil in yuan via ICICI Bank, sources say

Posted by Kooolxxx

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OkArm8581 Apr 17, 2026 +108
Clear win for Trump. Amazing win. Nobody ever win like this.
108
SilentRhubarb1515 Apr 18, 2026 +26
I’m starting to see how he managed to bankrupt a bunch of casinos
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tiregroove Apr 18, 2026 +6
hahah only now? trump is Homer Simpson if he was drawn as an evil villain.
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InfiniteEducation1 Apr 18, 2026 +5
Too much winning 🥇
5
gudbote Apr 17, 2026 +74
Rednecks have no idea just how much Trump fucked America with the fall of the Petrodollar and the alternatives to the US card & banking systems.
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____DEADPOOL_______ Apr 18, 2026 +5
Wake up man, these people want the destruction of the world because they believe they're one of the 20,000 people who will hover into heaven while the rest of us stay here and die. The destruction of the system is seen as an accomplishment.
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gudbote Apr 19, 2026 +2
A couple of them do, the rest is buying the bullshit about a great reset, being great again (which they are unable to define) and so on.
2
snarky_answer Apr 17, 2026 +11
Sure, except this has been happening for some time now because it’s a way to avoid sanctions for using the dollar to buy Iranian oil. The yuan won’t become the new dollar unless china feels like hurting their export market with the increased value of the yuan. This is the same thing they did for sanctioned Russian oil. It’s nothing new.
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Coolbanh Apr 17, 2026 +8
The yuan is also more regulated and complicated than other normal currencies. It will be an option but hard to be a reserve currency without further reforms.
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SomguyTheSecond Apr 18, 2026 +3
China has to open its economy and make its bank independent, which is inherently against their ideology (for some good reason imo).
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ApplicationMaximum84 Apr 18, 2026 +3
India had not purchased any oil from Iran since 2019, they only resumed during this current US conflict with Iran.
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tiregroove Apr 18, 2026 +16
"And then in 2024 a total ṁοʀοɴ got elected as president a 2nd time and that's how the US dollar lost it's domination of the world economy..."
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ReactionJifs Apr 18, 2026 +5
you can't get humiliated in a history book if none are being written
5
LostInAPortal Apr 18, 2026 +1
As much as I’d love to see it, the dollar has a long way to go before it loses its dominance
1
tiregroove Apr 18, 2026 +1
trump has done more to devalue it since Nixon took it off the gold standard though. He has alienated ALOT of international allies and forced their hand to trade in other currencies of nations with leaders not hellbent on stupidity. trump really believes the USA is invincible and world leaders are smiling at him and nodding while slowly backing away because he's so easily flattered and corruptible. Villains are supposed to be smarter. And we as the US look like a nation full of idiots hoisting our giant foam fingers for electing him.
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DogblackMichigan Apr 18, 2026 +2
Won’t last. China won’t be able to resist getting their cut via currency manipulation. They can’t help themselves. They will go back to the dollar at China gets greedy.
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compuwiza1 Apr 18, 2026 +4
The dollar is about to be buttwipe paper. It started when Nixon took it off the gold standard and will be completed by Krasnov.
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d4dog Apr 18, 2026 +2
The American nightmare.  Oil being brought and sold, but not in US dollars!  "That's not how our  free market supposed to work, it's almost a declaration of war."
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DogblackMichigan Apr 18, 2026 +2
They are trusting China to not screw them. Ha!
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gao7on Apr 19, 2026 +1
In the foreign exchange market, RMB/yuan is just 7-8% of all fx currencies, whereas the US dollar, aka greenback, makes up 88% of all transactions. Followed by Euro and Yen respectively. So the red Mao bills or the digital e-CNY still have a long way to go.
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[deleted] Apr 18, 2026 +1
[removed]
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ultimate_bond Apr 18, 2026 -1
You think? India didnt buy oil from Iran from longtime until now
-1
lostfly Apr 18, 2026 +1
Since 2019 due to US sanctions.
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rain168 Apr 18, 2026 -7
Nothing new. India has always been buying from whoever sells the cheapest
-7
prophecy0091 Apr 18, 2026 +26
It’s not the source of the oil that’s news, rather the currency of transaction
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Kind_Commission_427 Apr 18, 2026 +3
The move follows a broader trend where Indian refiners have also used yuan to settle some Russian oil purchases to bypass Western-led financial restrictions.
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