The countries are avoiding dollar payments due to risk of secondary sanctions, says the CEO of a state-run lender Several weeks after rupee-ruble talks were reportedly suspended over concerns by both Russia and India about secondary sanctions, a new mechanism has emerged to facilitate non-dollar settlements. The traditional allies are turning to settling outstanding non-oil payments with the excess Indian rupees in Moscow’s coffers, according to a top official at India’s United Commercial Bank (UCO Bank), a state-run lender. Although this is a new approach, the mechanism had actually been in the works since Januar
Hence then, the article about russia and india reviving rupee settlements in trade was published today ( ) and is available onRussia Today ( News ) The editorial team at PressBee has edited and verified it, and it may have been modified, fully republished, or quoted. You can read and follow the updates of this news or article from its original source.
Read More Details Finally We wish PressBee provided you with enough information of ( Russia and India reviving rupee settlements in trade )