Billions in Russian oil sale profits are stuck in Indian banks, marking a blow to President Vladimir Putin’s attempts to stop using the U.S. dollar for trade.

Commodities such as oil, gold and wheat are typically traded around the globe in U.S. dollars, the world’s reserve currency.

However Russia’s financial system was essentially isolated by Western sanctions imposed after Putin’s invasion of Ukraine, making his country unable to make transactions in greenbacks, thus limiting trade.

  • Aurenkin
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    1 year ago

    You only think that getting your defensive line breached and continuing to lose ground 565 days into your 3 day offensive is bad if you’re in a propaganda bubble.

    • ours@lemmy.film
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      1 year ago

      No no, it’s all part of Putin’s 4D-chess masterplan!

      [Snorts copium]