According to a Reuters report on March 8, sanctions against Russia by countries led by the United States have begun to weaken the dollar's decades-long dominance in international oil trade, as most oil transactions in Russia and India are already settled in other countries' currencies.
According to reports, Europe has stopped importing Russian oil since the Russia-Ukraine conflict.
At the same time, India's import of Russian oil has increased significantly. Russia has now become India's main oil supplier.
