DREAM / The Prime Minister resigns and wakes up under the Parisian bridge!

 Kliko këtu për të tjera
Voxpress:

Russia and India, trade deal without dollar in the middle

2022-04-03 14:26:43Biznes SHKRUAR NGA REDAKSIA VOX

Russia and India, trade deal without dollar in the middle

Russia and India took a small but important step towards financing and trade investment by avoiding the dollar, when the Reserve Bank of India allowed Russia to invest the proceeds from its arms sales to India in corporate bonds in the local currency.

Both countries will benefit, with Russia bypassing sanctions on trade and transactions stemming from its invasion of Ukraine and India holding Russian money in its financial markets. Since India has taken a neutral stance on the war in Ukraine, its markets are without sanctions and remain open to Russian investors and products.

The Asia Times also reports that the Russia-India trade deal is the first of its kind, operating independently of the dollar. Asian countries have long had a reserve system, independent of the dollar, for foreign trade financing. However, to date it has not been used to finance regular trade transactions.

According to various estimates, trade between India and Russia amounts to $6.5-7 billion per year. Abandoning the dollar in their mutual transactions itself will not have any significant impact on the status of the dollar. The World Bank's latest global trade estimate suggests total global exports reach $20.5 trillion. The same countries import for a total of $18.4 trillion.


Në përputhje me standarded JTI

Video

SHIKO KANALIN NE YOUTUBE
×