India Says It’s Working with Russia on De-Dollarisation of Bilateral Trade

BATTLE FOR WORLD / SPUTNIK NEWS | July 11, 2019: The article highlights that India says it is working with Russia to overcome payment issues for its strategic imports from that country. And the Deputy National Security Advisor of India, Ambassador Pankaj Saran noted that both sides are working on rupee-rouble trade to overcome a crisis caused by US financial sanctions.

And: “As part of the trading environment, there have been talks about trade in national currencies. This again is still a work in progress and we need to see how we can operationalise and move forward on this idea, because increasingly we see many countries in the world are taking recourse to trading in their own respective currencies”, said Saran, the Ambassador of India.

Moscow’s envoy to New Delhi Nikolay R. Kudashev noted that it is important to overcome major impediments to bilateral trade. And is moving ahead with a solution for this problem to solve speedily the operationalisation of the International North-South Transport Corridor, which would allow the infrastructure gap between both countries to be bridged.

(BattleForWorld: Things are moving ahead to bring about a new financial system transaction agreement among countries. The official unhooking from the West petrodollar is approximated to start in/after the year 2024.)

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