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stabilising financial engagement with Russia: India
New Delhi: India on Thursday as soon as once more mentioned its goal has been to stabilise its financial engagement with Russia and that an inter-ministerial group is resolving points regarding fee mechanisms with Moscow.
The feedback by Exterior Affairs Ministry Spokesperson Arindam Bagchi got here amid rising Western strain on India to restrict its financial ties with Russia and oppose the Russian invasion of Ukraine.
Replying to a query at a media briefing, Bagchi mentioned there’s a chance that the Western sanctions in opposition to Russia would possibly impression India and the inter-ministerial group is trying into the difficulty.
“Our goal has been to see how (we) can stabilise the financial transactions or financial engagement that we’re doing with Russia within the present context,” he mentioned.
India has not but publicly condemned the Russian assault on Ukraine and has been urgent for the decision of the battle by dialogue and diplomacy.
Bagchi mentioned an inter-ministerial group led by the Finance Ministry is trying on the fee mechanisms.
“There’s a chance that these sanctions would possibly impression us and that’s the reason we’re having the interministerial discussions and different conversations to see how we are able to maintain our financial interactions with Russia stabilised and in addition to see how we are able to guarantee our pursuits will not be affected,” he mentioned.
The MEA spokesperson was requested whether or not India would really feel the impression of the Western sanctions in opposition to Moscow.
“To say that it’ll not occur, it is rather tough to say,” he mentioned.
Requested whether or not India is paying Russia in roubles for its imports, Bagchi didn’t give a direct reply.
“I don’t suppose that’s associated in any method with the difficulty of whether or not Europeans are paying in roubles or not. We are able to pay in no matter forex that we work out. There are in fact constraints. I do know there are sanctions by some international locations and that type of concern,” he mentioned.
When requested whether or not India is shopping for extra crude oil from Russia utilizing the Rupee-Rouble fee mechanism, he mentioned the oil purchasers may have a greater concept of it.
“The federal government’s perspective is that the inter-ministerial group headed by the finance ministry is how we are able to resolve this concern of fee mechanisms,” he mentioned.
Responding to a query on whether or not the Ukraine concern will determine throughout Prime Minister Narendra Modi’s upcoming go to to Germany, Denmark and France, Bagchi mentioned: “Naturally, topical points do get mentioned.”
However, on the similar time, he added that there’s a lot extra to debate in the course of the go to than this concern.
Modi will embark on a three-day go to to Germany, Denmark and France from Might 2.
To a selected query on whether or not India could possibly be a part of the peace initiative in Ukraine, Bagchi mentioned New Delhi has not acquired any specific request from both Ukraine or Russia for it.
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Source: Around the Globe
