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.
Russia is fighting the poorest country in Europe and is losing ground. In what way does that make a mockery of US/NATO capabilities?
‘We have suffered substantial losses in our war with NATO.’
‘How many losses has NATO suffered?’
‘NATO hasn’t shown up yet.’
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