{"id":561444,"date":"2023-03-09T09:22:48","date_gmt":"2023-03-09T03:52:48","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=561444"},"modified":"2023-03-09T10:50:23","modified_gmt":"2023-03-09T05:20:23","slug":"indias-oil-deals-with-russia-dent-decades-old-dollar-dominance","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/indias-oil-deals-with-russia-dent-decades-old-dollar-dominance\/","title":{"rendered":"India&#8217;s oil deals with Russia dent decades-old dollar dominance"},"content":{"rendered":"<p>U.S.-led international sanctions on Russia have begun to erode the dollar&#8217;s decades-old dominance of international oil trade as most deals with India &#8211; Russia&#8217;s top outlet for seaborne crude &#8211; have been settled in other currencies.<\/p>\n<p>The dollar&#8217;s pre-eminence has periodically been called into question and yet it has continued because of the overwhelming advantages of using the most widely-accepted currency for business.<\/p>\n<p>India&#8217;s oil trade, in response to the turmoil of sanctions and the Ukraine war, provides the strongest evidence so far of a shift into other currencies that could prove lasting.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>U.S.-led international sanctions on Russia have begun to erode the dollar&#8217;s decades-old dominance of international oil trade as most deals with India &#8211; Russia&#8217;s top outlet for seaborne crude &#8211; have been settled in other currencies. The dollar&#8217;s pre-eminence has periodically been called into question and yet it has continued because of the overwhelming advantages of using the most widely-accepted currency for business. India&#8217;s oil trade, in response to the turmoil of sanctions and the Ukraine war, provides the strongest evidence so far of a shift into other currencies that could prove lasting.<\/p>\n","protected":false},"author":40,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[135,130,169],"tags":[],"class_list":["post-561444","post","type-post","status-publish","format-standard","hentry","category-business-standard-newspapers","category-newspapers","category-oil-gas-business-standard-newspapers"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/561444","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/40"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=561444"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/561444\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=561444"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=561444"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=561444"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}