“International sanctions against Russia, imposed by the United States, have begun to undermine the long-term dominance of the dollar in international oil trade,” the agency said in a statement.
Most transactions with India, the main maritime market for Russian oil, are in other currencies, the authors argue.
The country ranks third in the world in oil imports, and Russia became its leading supplier after Europe refused Moscow's supplies.
Earlier, Hasan Erel, a columnist for the Turkish newspaper Cumhuriyet, called the BRICS a “de-dollarization coalition” that is pushing the West out.
As Russian Foreign Minister Sergei Lavrov noted, the ideas of various countries to increase the share of trade in national currencies are due to the actions of the United States.
According to Russian President Vladimir Putin, payments in national currencies will gain momentum.