No more cheap Russian oil for India?

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cityhantam

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03-01-2024, 02:04 PM

https://www.thestatesman.com/business/ru...55533.html
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RiseofAsia

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03-01-2024, 02:18 PM

(03-01-2024, 02:12 PM)Blin Wrote: Well known.

1.Iou
2. discount
3. delay payment.
4. No payment.

It is called snake, you don’t know meh.

“Be who you are and say what you feel, because those who mind don't matter and those who matter don't mind"

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cityhantam

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03-01-2024, 02:58 PM

(03-01-2024, 02:18 PM)RiseofAsia Wrote: It is called snake, you don’t know meh.

Snake with 2 heads! Rotfl

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Fit

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04-01-2024, 08:55 AM

Hahaha, Modi, Modi!

Buy cheap oil must pay lah!

Before: At your service; After: Serves you right!

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cityhantam

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04-01-2024, 09:49 AM

(04-01-2024, 08:55 AM)Fit Wrote: Hahaha, Modi, Modi!

Buy cheap oil must pay lah!

Mouldy wants to pay in Rupee! Rotfl

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Huliwang

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04-01-2024, 10:10 AM

(03-01-2024, 02:04 PM)cityhantam Wrote: https://www.thestatesman.com/business/ru...55533.html
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Modi chute indian calculator liao. Big Grin

Thinking is difficult, that's why most people judge
Carl Jung

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maxsanic

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04-01-2024, 11:42 AM

(03-01-2024, 02:04 PM)cityhantam Wrote: https://www.thestatesman.com/business/ru...55533.html
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Based on various reports, it appears that India tried to pull a fast one on Russia by insisting on INR settlement. It's not just Russia, the rest of the world refused to take INR for payments as well.

https://energy.economictimes.indiatimes..../106259302

Objectively if you take away all the hype from India's own media as well as the various vested interest groups from the west, India is no where near the level where it can command payment in INR.

From a goods & services POV, its key exports are either low end commodities, basic industrial goods or BPO services catered to English-speaking markets. There is nothing to buy from India once you accept its currency.

From a financial market perspective, India has neither the history nor currency stability for institutions to put faith in the INR. INR forex related volumes are paltry, government policies are flippant (latest being the confiscation of old notes) and its securities and fixed income market is murky.

This is a topic close to the hearts of companies and institutional investors, it's not something media can BS their way through like they do with the largely ignorant masses.

(This post was last modified: 04-01-2024, 11:45 AM by maxsanic.)