MOSCOW, December 4. /TASS/. Russia has managed to establish a channel for the sale of Indian rupees, Chief Executive Officer of VTB, Russia's second-biggest bank, Andrey Kostin said.

"We simply managed to establish a distribution channel, because due to this imbalance, the rupee must be traded on financial markets. And counterparties from those countries that buy things in India are buyers of the rupee; they need it. And the market has become active, and so the problem has disappeared," he said in a commentary to the Rossiya-1 TV channel on the problem of the so-called frozen rupees that existed in 2022-2023.

Russia and India are moving towards increasing the share of settlements in national currencies, Kostin added.