Russia and India do not need the US dollar for trade, the two countries will use their national currencies for mutual commercial transactions. BRICS International Forum president Purnima Anand told reporters on Thursday. Russian news media RT.

Purnima told reporters, ‘We have implemented the mechanism of mutual settlement in ruble and rupee and our countries do not need to use dollar in mutual transactions. Also today (Thursday) China is trying to settle on moving towards a mutual transaction process in ruble and yuan.

He added, ‘This means BRICS countries are opening up to Russia, allowing the country to overcome the consequences of the sanctions.’

The BRICS President said that the mutual trade between India and Russia has increased fivefold in the last 40 years. Moscow supplied India with a booming supply of oil and in return received large quantities of agricultural produce, textiles, medicine and other goods.

He also noted that New Delhi considers itself a neutral party in the current sanctions war between the West and Russia and will continue to cooperate with Moscow ‘in any case where necessary’, despite pressure from sanctions.

The forum leader emphasized, ‘When the Russian military operation started in Ukraine, naturally there was pressure on India to stop the import of Russian oil. But the Ministry of Foreign Affairs had to reject this pressure. The Russian side was assured that supplies would not be stopped and that the sanctions would not affect the relations between our countries in any way.’

(25 Aug)