India and Russia working to launch a rupee-ruble trade agreement that circumvents Western sanctions and weakens the dollar’s global standing

Tuesday, March 29, 2022 | Tag Cloud Tags: , , , , , , ,

(Worthy News) – The government of India is expected to announce an agreement with its counterparts in Russia that will allow the countries to continue trading with one another while circumventing Western sanctions on Russia.

In a move that will surely shake up the global economy, the two countries are working on establishing a trade agreement that removes the U.S. dollar from the equation. CNBC reported that in order to continue conducting business with one another, India and Russia are going to implement a rupee-ruble trade mechanism.

This mechanism will eliminate the countries’ reliance upon the SWIFT telecommunication network to conduct trade with each other, and it will provide them with an additional layer of security that prevents Western nations from meddling in their business affairs. [ Source: Blaze (Read More…) ]

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