Roubles and Rupees: Russia Says No More Hurdles in Payments with India
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CNBC-TV18
BizTocRussia says no more hurdles in payments with India
Russia's trade with India reached a record $70 billion in 2024, tripling since the start of the conflict in Ukraine in 2022, as India stepped up imports of Russian oil discounted due to Western sanctions. Bilateral trade fell in 2025 when those sanctions were tightened but rebounded in the first half of 2026.
The Economic Times
Times of IndiaRoubles and rupees: Russia says no more hurdles in payments with India
Russia and India have built a functioning payments infrastructure using roubles and rupees. This system now accounts for ninety-six percent of their bilateral trade transactions. Bilateral trade reached seventy billion dollars in 2024, tripling since 2022. Russian businesses previously faced challenges with rupee overhang and trade imbalances. Both nations' banks are actively servicing this growing economic partnership.
Russia-India trade gets a rupee-rouble boost, 96% settlements use local currencies
Russia's trade with India reached a record $70 billion in 2024, tripling since the start of the conflict in Ukraine in 2022, as India increased imports of Russian oil discounted due to Western sanctions.
Russia and India, the second largest importer of Russian oil, have created a functioning payments infrastructure using rubles and rupees, which now account for 96% of bilateral trade,… Russia: No more obstacles to payments with India - ΘΑΝΤΕΜΟΠΟΡΙΚΙ
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