India has proposed that billions of rupees accumulated in local bank accounts of Russian exporters be used for the supply of Indian goods to third countries as part of orders from Russia. This was announced by Federation of Indian Export Organizations (FIEO) president Ajay Sahai. TASS.
According to him, a plan is being discussed under which a Russian company receiving an order from a third country can place it in India and pay in rupees from these accounts. And the buyer will then pay in another currency to Russia.
“The idea is that such a system will help India’s exports and allow Russia to use the accumulated rupees; win-win for both parties,” Sahay said.
He confirmed that billions of rupees from Russian exporters were in Indian banks but did not give the exact amount. The FIEO chairman announced that rupee trade with Russia continues, albeit in small amounts.
Before that, Russia sharply reduced Use of dollar and euro in foreign trade.
existed before clarified Share of the dollar in payments between BRICS countries.
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Source: Gazeta
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