However, the U.S. dollar will remain the currency of choice for transactions in international oil markets, he told CNBC's Tanvir Gill. watch nowThe U.S. dollar has long been the main global oil currency, including for purchases by India. Stock Chart Icon Stock chart iconOil has also been settled in Indian rupees. In light of this, Puri was asked if the Indian rupee could be part of the de-dollarization trend, especially in the oil market? But these international arrangements, trading arrangements, payment arrangements, these have been in place for a long time," he added.

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Persons: Hardeep Singh Puri, CNBC's Tanvir Gill, It's, SWIFT, Puri, I'm, Hardeep Singh, Luiz Inácio Lula da Silva Organizations: U.S, Gas, CNBC, India, Reuters, India Oil Corp, United Arab Emirates, Affairs, Gas Minister Locations: New Delhi, Russia, Ukraine, Moscow, China, Saudi Arabia, India, Malaysia, Hardeep Singh Puri, South Africa