Which of the following countries has agreed to accept the payment of export of oil and petroleum products to India, in rupee terms instead of dollar or any other currency

2023

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Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]

A	kuwait
B	UAE
C	Iran
D	Iraq

Explanation:

Detailed explanation-1: -Iraq and Saudi Arabia remain the top two exporters of crude oil to India. India’s imports from Russia range from petroleum and other fuels, fertilisers, coffee, tea and spices.

Detailed explanation-2: -Vortexa said that India imported 803, 228 bpd of oil from Iraq in December and 718, 357 bpd from Saudi Arabia. The United Arab Emirates (UAE) overtook the US to become India’s fourth largest supplier, selling 323, 811 bpd oil in December 2022. The United States supplied 322, 015 bpd, down from 405, 525 bpd in November 2022.

Detailed explanation-3: -NEW DELHI: Netherlands has emerged as India’s third largest export destination, trailing the US and UAE, during April-October this year, rising from the eighth spot a year ago.

Detailed explanation-4: -The Netherlands has emerged as the top destination for India’s petroleum product exports such as petrol and diesel in the first half of the current fiscal year. This bump in exports has also resulted in the Netherlands becoming the third biggest market for India’s overall exports, thereby replacing China.

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