Russian international minister Sergei Lavrov throughout his current go to to India to attend SCO international minister’s assembly in Goa made a comment saying that Moscow has billion of rupees in Indian banks however they cannot use them.
“This is a problem,” stated Russian Foreign Minister Sergei Lavrov whereas talking to reporters in Goa on the sidelines of the SCO international ministers’ assembly.
“We need to use this money. But for this, these rupees must be transferred in another currency, and this is being discussed now,” he stated.
According to Ministry of Commerce and Industry knowledge, India’s complete exports to Russia lowered to 11.6% to $2.8 billion in the primary 11 months of the 2022-23 monetary 12 months, whereas imports rose practically fivefold to $41.56 billion.
India nearly imported 1.68 million barrels a day of crude oil from Russia in April, at the very least six occasions in comparison with final 12 months’s imports, after Moscow supplied it at an affordable worth as a result of Russia-Ukraine war.
The crude oil trade transactions occurred in nationwide currencies after the West put sanctions on Russian banks and SWIFT programs amid the Ukraine war.
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