Russia, India no longer using U.S. dollars in arms deals payments

[Muhammed45]

Russia, India no longer using U.S. dollars in arms deals payments

NEW DELHI. Dec 7 (Interfax) - Russia is no longer using the U.S. dollar in mutual transactions as part of arms deals, including with India, Rosoboronexport head Alexander Mikheyev told reporters.

"By tradition, we give the price of all deals in dollars for the ease of calculations. However, in its real work, Rosoboronexport has almost completely stopped using the American currency in transactions," Mikheyev said.

When using national currencies, there is no risk of delays of payments under contracts, he said.

"As regards India, all mutual payments are handled in rubles and in rupees. Besides, we are actively using offset projects, which also exist in the contracts that we signed today. It is normal modern practice. It is one of the world market's trends," Mikheyev said.

India is one of the main buyers of Russian weapons. Russia's current book of weapons orders placed by India stands at around $15 billion. In all, India has ordered Russian weapons worth approximately $70 billion since 1991, Russia's Federal Service for Military-Technical Cooperation said.

Russia, India no longer using U.S. dollars in arms deals payments

interfax.com

 

[Dalit]

LOL the Americans getting severely owned.

 

[Irfan Baloch]

Russia, India no longer using U.S. dollars in arms deals payments

View attachment 799978
NEW DELHI. Dec 7 (Interfax) - Russia is no longer using the U.S. dollar in mutual transactions as part of arms deals, including with India, Rosoboronexport head Alexander Mikheyev told reporters.

"By tradition, we give the price of all deals in dollars for the ease of calculations. However, in its real work, Rosoboronexport has almost completely stopped using the American currency in transactions," Mikheyev said.

When using national currencies, there is no risk of delays of payments under contracts, he said.

"As regards India, all mutual payments are handled in rubles and in rupees. Besides, we are actively using offset projects, which also exist in the contracts that we signed today. It is normal modern practice. It is one of the world market's trends," Mikheyev said.

India is one of the main buyers of Russian weapons. Russia's current book of weapons orders placed by India stands at around $15 billion. In all, India has ordered Russian weapons worth approximately $70 billion since 1991, Russia's Federal Service for Military-Technical Cooperation said.

Russia, India no longer using U.S. dollars in arms deals payments

interfax.com

good show. Americans normally choose to invade countries that debased from US dollars but India and Russia are not helpless middle eastern countries.

 

[Muhammed45]

The best part of story is that no one is afraid of USA anymore.

That's a great sign, American forces in Syraq will be slaughtered like summer pigs.

 

[Dalit]

The best part of story is that no one is afraid of USA anymore.

That's a great sign, American forces in Syraq will be slaughtered like summer pigs.

The Americans are truly feeling the heat and even acknowledging it for the first time. Dejected, angry and vengeful.

 

[Pak_Sher]

Russia, India no longer using U.S. dollars in arms deals payments

View attachment 799978
NEW DELHI. Dec 7 (Interfax) - Russia is no longer using the U.S. dollar in mutual transactions as part of arms deals, including with India, Rosoboronexport head Alexander Mikheyev told reporters.

"By tradition, we give the price of all deals in dollars for the ease of calculations. However, in its real work, Rosoboronexport has almost completely stopped using the American currency in transactions," Mikheyev said.

When using national currencies, there is no risk of delays of payments under contracts, he said.

"As regards India, all mutual payments are handled in rubles and in rupees. Besides, we are actively using offset projects, which also exist in the contracts that we signed today. It is normal modern practice. It is one of the world market's trends," Mikheyev said.

India is one of the main buyers of Russian weapons. Russia's current book of weapons orders placed by India stands at around $15 billion. In all, India has ordered Russian weapons worth approximately $70 billion since 1991, Russia's Federal Service for Military-Technical Cooperation said.

Russia, India no longer using U.S. dollars in arms deals payments

interfax.com

This is India playing the double game stabbing US & the dollar in the back.

 

[Communism]

The only people they are hurting is themselves.

Both the Russian Ruble and the Indian Rupee constantly depreciate against the USD.

If two countries with worthless currencies trade, they should try gold or something.

 

[CrazyZ]

LOL the Americans getting severely owned.

Biden threatened to boot Russia out off the SWIFT system. The Russians are maneuvering to mitigate any impacts.

Dollars demise is easier said then done. Too many elites in too many countries have benefited from the global dollar system and nothing is really their to replace it. If most of the big exporting countries (OPEC, China, Germany, etc) got in a room said they were no longer taking dollars......then the USA should be concerned. Russia alone can't challenge it, The Indians are playing both sides (they keep most of their reserves in dollars).

 

[Splurgenxs]

The dollar is here to stay and it is not because of America , it is because of our countries , or rather the countries that we trade with don't trust in our currency.

This is not as non systemic as some jargon here might portray , with the flip of the switch ideas.

Only way to move away from the dollar is to trade a new global currency that will be secured by the services of the globe.

 

[Imran Khan]

The only people they are hurting is themselves.

Both the Russian Ruble and the Indian Rupee constantly depreciate against the USD.

If two countries with worthless currencies trade, they should try gold or something.

what if they do it in EURO ?

The dollar is here to stay and it is not because of America , it is because of our countries , or rather the countries that we trade with don't trust in our currency.

This is not as non systemic as some jargon here might portray , with the flip of the switch ideas.

Only way to move away from the dollar is to trade a new global currency that will be secured by the services of the globe.

TBH i love it if there is world central bank and a currency for all like euro . no gov hold it like USD .

 

[Chhatrapati]

Helps saves us some dollars. It is not ending dollar dominance or anything in fact it is to save dollar flight.

 

[vostok]

That is surely a step in right direction!

 

[Beast]

The dollar is here to stay and it is not because of America , it is because of our countries , or rather the countries that we trade with don't trust in our currency.

This is not as non systemic as some jargon here might portray , with the flip of the switch ideas.

Only way to move away from the dollar is to trade a new global currency that will be secured by the services of the globe.

Chinese Yuan a key focus for RBI's currency intervention

Indian rupee, Singaporean dollar and Chinese yuan are considered as three relative stable currencies for international investors.

economictimes.indiatimes.com

Yes, and it will be RMB in future.

 

[Indos]

This is also interesting for Indonesia if we can use Rupiah to buy Russian weapons, Indonesian Rupiah is quite stable now. It has been 5 years the currency is traded between 14000-14500 per USD in average.

 

[Beidou2020]

More and more countries just doesn’t give a shit about the US. They are losing power and influence and they know it. This is what happened in the final years before the British empire collapsed and disintegrated. You will see even US friends and allies not fear the US anymore and just do what’s in their national interest instead of bowing to American pressure. It is a snowball effect and it will get a whole lot worse for the US.