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Russia and India can expand trade in national currencies in near future — Ambassador

It was added that work is underway on a system that can replace SWIFT and it is linked to the already existing settlement mechanism in rubles and rupees

MOSCOW, April 4. /TASS/. Russia and India can expand trade in national currencies in the near future, Russian Ambassador to the country Denis Alipov said in an interview with the Rossiya-24 TV channel on Monday.

When asked about the possibility of expanding trade between countries in national currencies he replied:

"I think that [this] is quite possible. Great prospects are opening up for Indians in our market, in particular taking into account the fact that many Western partners have left our market."

"Indians have a serious production base in various sectors of the economy, therefore, as they say, it is only fitting that someone occupies those niches that turned out to be vacant. In this sense, the Indians may be quite interested, and this interest is already there, in terms of intensifying mutual trade and business cooperation," he said.

The Ambassador added that work is underway on a system that can replace SWIFT and it is linked to the already existing settlement mechanism in rubles and rupees.

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