Indian Prime Minister Narendra Modi recently visited the United States and demonstrated a "close relationship" with BidenThey complimented each other and signed a number of agreements, but on the balance of interests, India still finds the renminbi more attractive.
According to the British news agency Reuters, several refineries in India are buying Russian ** with yuan. According to the report: India's largest refinery, the state-owned Indian Oil Company (IOC) is the largest buyer of Russia's ** in India, and the company has been settling orders in yuan since June this yearIn addition, at least two of the three major private refineries are also using renminbi settlements. In addition, the state-owned Bharat Oil Company is also looking for ways to establish renminbi settlements.
India currently imports about 2.2 million barrels per day from Russia, and it continues to increase, and Russia has overtaken Saudi Arabia and Iraq to become India's largest oil supplier.
Reuters also quoted sources as revealing that Indian Oil Corporation paid RMB to Bank of China through the Indian Industrial Credit Investment Bank for reconciliation with Rosneft, but they refused to disclose the proportion of India's imports from Russia that were settled in RMB.
India** has issued a statement announcing that it "does not support RMB** settlement";But in the face of real money, the RMB is still "fragrant";This also turned some of Indian Prime Minister Narendra Modi's previous performances in Washington into a joke.
In front of Biden, he praised the "democratic values" of the United States and India, and in his speech on Capitol Hill, he shouted that "the friendship between the United States and India will last forever";In order to win over India, the United States is also at any cost, advanced UAVs can be sold, F414 engine technology can also be provided, and even the precious active service ** of the US Navy dares to be sent to India's "pit money" shipyards for repair, all of which is to make India an important piece of the puzzle in the geostrategy of the United States.
However, Russia broke all this with oil. When Russia proposed RMB settlement, India only hesitated a little and followed the trend of "RMB settlement".
For the United States, whether it is Russian oil or the Chinese currency, it is a very dazzling existence, but while India sings "good brothers" with it, while happily taking the yuan to buy Russian oil, I am afraid that in my heart I still boast that the United States has sanctioned well, and if India does not sanction, there is no such cheap to pick up.
However, some friends have such questions: Does India have so many yuan to spend?Since India's independence, there have been only two years of a surplus, and the rest have been in deficit;This is especially true for China, India has never been a big exporter of resources, and China has to earn tens of billions of dollars every year, and there is no currency swap agreement between China and India, so India is looking for RMB from **
Here is one of the amazing things about India: it is never short of foreign exchange. The RMB used by India to buy Russian oil is mainly to exchange the foreign exchange in hand with Chinese banks, theoretically speaking, as long as India does not lack dollars or other foreign exchange, there is no shortage of RMB. Although India has a $200 billion annual deficit in goods and a surplus in services, India has a way to make up for it.
There is such a saying, if you want to do things, you have to find Chinese, but if you want to publicize, then find Indians;Therefore, India is good at speculation and publicity, selling stocks to attract investment, coupled with the annual remittances of about 80 billion US dollars from overseas Indians, India can not only make up for the deficit, but also make the foreign exchange reserves bigger and bigger.
Sometimes, we have to envy India's international environment. But behind this dilemma, India should understand one thing: the vision of a "sound and impressive" great power must ultimately speak on its own strength;It should think about why Russia rejects the rupee when it needs India, and is not afraid of offending IndiaWhy do India's oil companies still have to settle in RMB after India** announced that it "does not support RMB settlement"?Why does the United States dare to sell all the advanced ** to India, and is not afraid of Indian imitation?However, despite this in India, I would like to advise some domestic companies that it is okay to make money, and never help them develop infrastructure.