Moscow and New Delhi are discussing rupee-ruble payments altenative The Indian government is reportedly considering Moscow’s proposal to turn to the Russian payment system, which allows direct rupee-ruble transfers in bilateral trade. The mechanism developed by the Russian central bank is expected to boost commerce between the two countries by avoiding dollar-denominated trade, and allow the world’s third biggest oil consumer to continue purchases from Russia, bypassing Western sanctions. The scheme involves rupee-ruble-denominated payments via Russia’s messaging system, SPFS. The final decision is expected to com
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