As things are looking, they would need a sanctions proof payment system for transactions, barters are a promising idea which does involve hard currency !.. Indian private companies sell to India to a separate escrow account and the GOI transfers the goods to Russia., once implemented it could work quite well. The billions of Russian monies could be placed in this account. Tbh i think a system of this sort is currently working under the radar! ..even manufacturing units could come up this way , 100% Russian FDIMaybe Russians can get around the sanctions and utilise their Rupee holdings by setting up 100% export-oriented manufacturing in India.
Statistics: Posted by drnayar — 07 Jan 2024 17:05