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INTERVIEW: India, Russia have no problems in payment for oil imports — envoy

Director General and CEO of the Federation of Indian Export Organizations Ajay Sahai told TASS earlier that there were billions of rupees in Indian banks belonging to Russian exporters

MOSCOW, August 24. /TASS/. India and Russia are not experiencing any problems in payment for oil imports, India’s ambassador to Russia Vinay Kumar said in an interview with TASS.

"India and Russia have a working system of trade settlement in national currencies. There is no problem now in payment for oil imports," he said.

Director General and CEO of the Federation of Indian Export Organizations (FIEO) Ajay Sahai told TASS earlier that there were billions of rupees in Indian banks belonging to Russian exporters. He did not give a specific amount though. Trade with Russia in Indian rupees was still ongoing, the FIEO chief added.