🌍 BREAKING: BRICS ENERGY TRADE DEFIES U.S. PRESSURE
India imported 1.7 million barrels of Russian crude in November, a 3.4% increase from October, despite ongoing U.S. pressure and tariffs reportedly reaching 50%.
Key details
December shipments: ~1.2 million barrels already en route
Major refiners involved: Indian Oil Corp, Bharat Petroleum, Hindustan Petroleum
Longer-term talks: Supply discussions extending into 2026
Settlement currencies: Rupee, Ruble, and Yuan — not the U.S. dollar
Estimated savings for India: ~$7 billion in foreign exchange
Why this matters
De-dollarization in practice
BRICS nations are increasingly settling energy trade in local currencies, reducing reliance on the dollar and challenging traditional settlement norms.
Sanctions reshaping trade flows
Rather than curbing activity, restrictions have encouraged closer BRICS coordination, secured discounted energy supplies, and accelerated alternative payment systems.
Geopolitical realignment
Energy markets are fragmenting into blocs, with trade routes and alliances shifting away from Western dominance.
Bottom line
This is more than an oil trade story. It signals a structural shift in global finance and energy, unfolding in real time as BRICS nations reshape how — and in what currency — commodities move.
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