New Delhi: Denis Alipov, the Russian Ambassador to India, stated that the United States’ close monitoring of transactions and its threats of secondary sanctions on Indian banks are the primary hurdles for direct trade between the Indian Rupee and Russian Ruble.
Alipov questioned, “Why should India be limited to partners approved by the US, especially when it comes to direct Rupee-Ruble trade?”
Alipov also voiced concerns over the long-term implications of US-led sanctions, arguing that India should not be bound by the strategic interests of another country.
“Today, it is necessary for India to settle its relationship with Russia; tomorrow, the US might ask India to curb its relationship with Bangladesh,” he said, pointing to an ongoing need for India to safeguard its economic autonomy.
The ambassador added that the growing pressure highlights the importance of creating a sustainable payment mechanism that bypasses dollar dependence and strengthens India-Russia ties.
