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    A Russian ruble coin is pictured in front of the Kremlin in in central Moscow, on November 6, 2014

    No Set Date for Introduction of Russia-India Trade in National Currencies

    © AFP 2019 / ALEXANDER NEMENOV
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    St. Petersburg International Economic Forum 2017 (183)
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    Moscow and New Delhi have not yet worked out details on when to introduce bilateral trade in national currencies, Nirmala Sitharaman, India's Minister of State for Commerce and Industry, told Sputnik on Saturday.

    ST. PETERSBURG (SPUTNIK) — On Thursday, Russia and India signed a joint declaration on coordinating efforts to introduce trade in national currencies to reduce dependence on other currencies.

    "The concerned minister in Russia and us will have to have our teams work on details, after which we will arrive at a convenient time of when we can start it [the Indian-Russian trade in national currencies]… Some details getting into specifics will have to be worked [out] with the finance ministries of both countries after which we can announce [the date]," Sitharaman said on the sidelines of the St. Petersburg Economic Forum (SPIEF).

    The 21st annual SPIEF is a major global platform for business representatives where crucial economic issues are discussed. SPIEF is held between Thursday and Saturday. Sputnik is an official media partner of the forum.

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    St. Petersburg International Economic Forum 2017 (183)

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