Indian Government Hesitant About Payments For Russian Oil In Yuan

Payment in Chinese currency of seven cargoes of Russian crude oil imported by state-run Indian oil refineries is being held up over the Indian government’s new-found hesitancy to accept this form of payment, Reuters cited unnamed Finance Ministry sources as saying on Monday. While there has been some delay in payment with some cargoes, Russian oil companies continue to supply Indian refiners, with India this year becoming the biggest importer of Russian seaborne crude at discounted prices. In July, some refiners began…