Russia switched to Rupees. How Putin lost 150 billion oil dollars in India

With the supply of Russian oil to India, a funny history has been published, writes international expert Rostislav Demchuk. Hindus does not mind paying, but for this they need to convert rups to dollars, which is impossible because of anti -Russian sanctions. Returning to the G20 Summit in India . . . A funny story arose with Russian Foreign Minister Mr. Lavrov.

Sergei Lavrov rushed to the summit in order to find a way to return to Russia, tens of billions of Indian Rs for the previously put oil in India. No, India does not refuse to pay, but because of international sanctions, these rupees cannot be converted into dollars and they settled in accounts with Indian banks (almost $ 150 billion). There is currently no way out of this situation.

The only thing that India was able to offer is to provide several areas of the Indian economy, in which these several tens of billions of Rs, Russia could invest in the future prospect of returning these funds through reinvestment, etc. Of course, Russia does not suit this option. Russia is needed already. But what do you do? The world of capital is very cruel.

More! What to do with a well -established oil flow from Posia to India? It is clear that India is unable to transfer a single rupee to Russia, the United States has banned the world to trade with Russia in US dollars. The same applies to the European currency of the euro. Bloomberg reports that Indian banks accumulate $ 1 billion in Rs on a monthly basis. However, the Indian financial system is arranged in such a way that the National Twilight operations are limited.