Russia and India are discussing the problem of mutual settlements in rupees – Kommersant
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Russia is discussing with India how to convert Russian rupees into another currency, Russian Foreign Minister Sergei Lavrov said. He confirmed the information of Reuters that the problem of mutual settlements between Moscow and Delhi in rupees exists, but denied the information about the termination of negotiations on this issue.
“As far as rupees are concerned, this is a problem, because there are billions of rupees in Indian bank accounts, and we need to use this money, for this, rupees must be converted into other currencies. This is being discussed,” the head of the Russian Foreign Ministry explained at a press conference following his visit to India (quote from “Interfax”).
The day before, May 4, agency Reuters reported that India and Russia decided to abandon the settlement mechanism in the Indian national currency because of its unprofitability for Russia – it generated a trade imbalance. So far, trade between the two countries continues in US dollars. Reuters sources specified that it is inconvenient for Russia to use the Indian national currency, in connection with which Moscow wants to be paid in other currencies, including Chinese yuan.
More details – in the publication “Kommersant” “The ruble and the rupee lack reciprocity”.
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