Foreign: Reuters reported that Indian refiners are paying for Iranian oil in Chinese yuan after a temporary waiver by the United States allowed New Delhi to buy crude from the Middle Eastern country.
According to RT on April 17, 2026, the United States issued a one-month waiver on March 20, which Washington said would not be extended.
Payment for Iranian goods is a complicated issue because of U.S. sanctions on Tehran, which have hampered some buyers of crude from the country.
Indian oil companies bought 2 million barrels of Iranian oil in April The country’s first purchase of Iranian crude in seven years, reportedly worth $200 million, has also allowed four ships carrying Iranian oil to dock for its largest private refiner, Reliance Industries. Both transactions are being settled through ICICI Bank, a private bank that is channeling funds in Chinese yuan through its Shanghai branch, according to media reports. Indian refiners have also previously used yuan to pay for some Russian oil purchases.
