India and Russia look into opportunity of making payments in national currencies

India and Russia are examining opportunity of making mutual payments in national currencies, Deputy National Security Adviser of India Pankaj Saran told reporters on Wednesday.

“This subject is now being discussed by the two governments and what governments have agreed on is that they will examine this possibility within their own systems. So that is the key position as of now,” Saran said. “They are looking into whether it is practical, whether it is feasible and whether the traders and the business community from both sides are agreeable to this,” he noted.

“I think at the moment this matter is still being examined at least in India and I presume on the Russian side. So we are at the stage of examining this possibility.”