Russia Wants All India Trade in Rupee-Ruble – Firstpost


Russia is looking to settle all its trade with India in rupees and rubles to boost “stability” for its companies and eliminate “losses” incurred from using dollars and euros, according to a report by Indian web news portal Firstpost.

The comments, made by Russia’s head of the department for external economic and international relations, Sergey Cheryomin, came at a time when increasing oil deals between the two countries have already begun to corrode the US dollar’s long-running dominance in energy trade.

They also came on the heels of latest trade data, reported by the Economic Times, that showed bilateral trade between India and Russia reached $38.4 billion in 2022.

Read the full report: Firstpost


Also read:

China Settles First LNG Trade in Yuan in Latest Hit to Dollar

China and Brazil Agree to Dump Dollar for Trade – AFP

India-Russia Oil Deals Erode Dollar’s Currency Dominance

India Using SWIFT Payment System For Dollar Trade With Russia



Vishakha Saxena

Vishakha Saxena is the Multimedia and Social Media Editor at Asia Financial. She has worked as a digital journalist since 2013, and is an experienced writer and multimedia producer. As a trader and investor, she is keenly interested in new economy, emerging markets and the intersections of finance and society. You can write to her at

Recent Posts

Chinese Outbound EV Investment ‘Hit Record High in 2023’

China could soon be producing 10 million excess vehicles per year, adding fuel to growing…

14 hours ago

India Gives Go-Ahead to $15.2 Billion Triple Chip Plants Plan

Tata Group and CG Power will partner up with Taiwan's Powerchip and Japan's Renesas on…

17 hours ago

China’s BYD Confirms Mexico Factory Plan But Rules Out Exports

Reports of BYD’s plans to expand production in Mexico spurred speculation that the EV giant…

19 hours ago

Biden Orders Probe Into Data Security Risks From Chinese EVs

The White House said the probe could lead to restrictions being imposed on Chinese EVs…

20 hours ago

US to Block Personal Data Sales to China, Russia – engadget

The order will also bar data brokers from selling large troves of Americans’ personal information…

20 hours ago

SpaceX’s Talks With Vietnam Over Starlink Internet Hit a Snag

Hanoi looks to have denied SpaceX's request for an easing of rules on foreign ownership…

21 hours ago