New Delhi: Russia and India plan to drop all use of the US dollar and the euro in bilateral settlements and conduct all trade transactions in rupee and rouble, a senior Russian official has said. While it’s a fundamental decision by both sides, it is necessary to address the imbalance in trade for a full-fledged … Read more
NEW DELHI: Moscow has sent India a list of more than 500 products for potential delivery including parts for cars, aircraft and trains, four sources familiar with the matter said, as sanctions squeeze Russia‘s ability to keep vital industries running. The list, a version of which has been seen by Reuters in New Delhi, is … Read more
The governor of Russia‘s most industrialised state of Ryazan met with Indian entrepreneurs including from the pharma, entertainment, water treatment and tourism industry seeking investment and to boost trade. Promoting his region Nikolay Lyubimov also assured the entrepreneurs that the Ryazan region will ensure free and fair business transactions with Indian partners. According to latest … Read more
India is examining all possible payment mechanisms for continuing trade with Russia, including the one adopted to settle payments with Iran. Foreign banks that don’t have operations in countries that have imposed sanctions on Russia or routing payments through Russian banks unaffected by the curbs are among the options under consideration. Third-country banks were used … Read more