04-September-2026
Economy News
 
'Russia and India's 96% bilateral trade now through Rupee-Rouble payment infra'
03-Sep-2026

Russia and India, the second-largest importer of Russian oil, have built a functioning payments infrastructure using roubles and rupees, which account for 96% of bilateral trade, a senior Russian banker said on Wednesday. Russia's trade with India reached a record $70 billion in 2024, tripling since the start of the Ukraine conflict in 2022, as India stepped up imports of Russian oil discounted due to Western sanctions. Bilateral trade fell in 2025 when those sanctions were tightened but rebounded in the first half of 2026.

News Source:- https://economictimes.indiatimes.com/news/economy/foreign-trade/russia-and-indias-96-bilateral-trade-now-through-rupee-rouble-payment-infra/articleshow/133719834.cms
 
 
 

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