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Published 2 months ago

India Ditches BRICS Countries, Buys More U.S. Oil

Summary by Ground News

BRICS members India and Russia initiated crude oil deals worth billions of dollars between February 2022 to December 2023. India saved nearly $7 billion in two years by procuring oil in local currencies with Russia due to the sanctions. The U.S. had sanctioned Russia for invading Ukraine allowing only a part of trade to be settled in the dollar.

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India Ditches BRICS Countries, Buys More U.S. Oil

India ditches its BRICS counterpart Russia and the Chinese Yuan, begins purchasing crude oil from the U.S. this year.

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