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Russia and India give up the dollar
16:17 - 15/07/2019
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Russia and India have agreed to adopt their national currencies instead of the dollar in multi-billion dollar arms deals to avoid the risks posed by US sanctions, the Bloomberg news agency reported.
According to the agency, quoting sources, India would be able to pay the first batch of two warships built by Russia to India, according to two sources familiar with the matter in New Delhi, while another in Moscow, aware of the preparations, Ruble and Rupee, under an agreement reached by the central banks of the two countries.
Bloomberg said the new mechanism could open up billions of dollars worth of weapons contracts to be implemented in national currencies. Russia's arms exports last year amounted to $ 19 billion.
Russia is the second largest exporter of weapons and military equipment in the world after the United States, and its exports accounted for about 58% of South Asia's arms imports from 2014 to 2018.
The United States is pressuring India to cancel a deal of more than 5 billion dollars to purchase the Russian air defense system "S-400", which is planned to be supplied after 2020. Ended 25 o
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