Russia and India Discuss Payment Issues Amid Western Sanctions

Russia and India are engaged in discussions about payment settlements, impeded by Western sanctions on Moscow and rupee inconvertibility. During a meeting between President Vladimir Putin and Prime Minister Narendra Modi, VTB Bank CEO Andrei Kostin highlighted efforts to alleviate these financial challenges for businesses and individuals.

Russia and India are currently engaging in constructive dialogue to address payment issues caused by Western financial sanctions on Moscow and the inconvertibility of the rupee, according to VTB Bank CEO Andrei Kostin on Tuesday.

Speaking on the sidelines of a crucial meeting between Russian President Vladimir Putin and Indian Prime Minister Narendra Modi in Moscow, Kostin revealed that the two nations are collaborating to mitigate financial problems affecting companies and individuals.

This ongoing collaboration comes amid efforts to strengthen bilateral relations and address economic hurdles imposed by international restrictions.

(With inputs from agencies.)