Many Russian banks have been blocked from the SWIFT network due to Western sanctions over Moscow's invasion of Ukraine

The firm also plans to help establish a Russian production site for the drones which are similar to Iran's Shaheed-136 and can carry a 35-50kg warhead

India is also pushing to avoid using the term "war" to describe Russia's invasion of Ukraine in official communique, G20 officials said

Russia has been diverting oil exports from Europe to Asia as the US and its allies try to choke off its energy revenues to limit its ability to fund the Ukraine war

"All these Arctic crudes usually go to the EU but now they have to go elsewhere," a trader in Singapore said, adding that "Now India and China are their major homes."

Xi wants China and Russia to transact more deals in rubles and yuan to insulate the two against future Western sanctions

The system is ready to be tested after exporters had an importers have opened new bank accounts to enable rupee trade.

Russia accounted for 22% of India's total crude imports last month, supplying 946,000 barrels per day, The Economic Times reported

India’s fast-rising Russian oil imports are being matched by its rising oil exports suggesting it may be reselling Russia’s oil to the West.

India’s fast-rising Russian oil imports are being matched by its rising oil exports suggesting it may be reselling Russia’s oil...

There is no global payment system that is strong enough to act as an alternative to SWIFT and enable Russia to evade sanctions

SPB Exchange in St Petersburg began trading in 12 securities whose primary listing is on the Hong Kong Stock Exchange and will provide access to bourse infrastructure