Archive · 18 Aug 2025

India's Oil Trade: Suppliers Hesitant to Use Rupees

India's Oil Trade: Suppliers Hesitant to Use Rupees

India buys a lot of oil from other countries.

The government wants to pay for this oil using Indian money (rupees), but the companies selling the oil don't want to.

This is because India doesn't sell as much to other countries as it buys from them.

A group in the government is now asking for everyone involved to find a way to use rupees for these oil payments.

Even though there was an effort to do this with Russia, it hasn't worked as well as planned.

They are also working on storing more oil to make sure there's enough.

Sources