India just ditched the dollar and used its own currency to buy a million barrels of oil from the UAE

News Snapshot:

A man counts Indian rupee banknotes in Varanasi, Uttar Pradesh, India. Dhiraj Singh/Bloomberg India bought 1 million barrels of oil from the United Arab Emirates using its own currency instead of US dollars. The Indian Oil Corp settled a payment in rupees with the Abu Dhabi National Oil Company. Nations including India, Russia, and other BRICS members have been pushing to de-dollarize. The dedollarization trend moved one step further this week as India's top oil refiner used a local currency to settle an oil trade with a seller in the United Arab Emirates. Indian Oil Corp ditched the greenback and...