New Delhi: Russian Foreign Minister Sergei Lavrov said on Friday that Moscow has developed a system to trade in national currencies with countries like India and move away from dollar-based payment systems. Efforts to be made will be intensified.
Soon after talks with External Affairs Minister S Jaishankar, Lavrov said Russia was exploring ways to remove barriers to bilateral trade with its allies and partners. Lavrov said that the rupee-ruble payment system for trade with India was implemented in the past and can be further strengthened.
“More and more transactions will be done using national currencies and bypassing the dollar-based system,” he told a select group of reporters. Asked about New Delhi’s plan to buy subsidized Russian oil, Lavrov said Moscow is ready to provide whatever India wants to buy.
The Russian Foreign Minister lauded India’s stand on the Ukraine crisis, saying it follows an independent foreign policy. He said that Russia is committed to continuing its cooperation in the defense sector with India.
