In particular, various countries have imposed a ban on Swift, which plays a key role in remittances to Russia. Thus Russia is suffering from the inability to make large-scale monetary transactions.
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Various obstacles
Meanwhile, despite pressure from various countries, including the United States and the European Union, on Russia, India has remained neutral from the beginning. Despite calls from countries including the United States to put pressure on Russia, silence has continued. It also continues to trade with Russia.
Request to India
Instead it is demanding to supply India in many more ways than before. Especially for the supply of essential commodities including various food items. Russia has also said it will supply oil to India at a discounted price. However, there is a big problem with the way India pays Russia and the fees Russia pays to India.
Transaction via UAE
Meanwhile, the two countries have been engaged in intensive consultations on the rupee-ruble exchange.
In this situation, Indian businesses have taken up the project of sending money to Russia through the United Arab Emirates. Amid fears that it could be banned from doing business directly with Russia, Indian companies are considering doing business through the United Arab Emirates.
Exporters' preference
It has also been reported that it would prefer to handle the same transaction as it did during the US embargo on Iran.
Meanwhile, the mayor of Kiev fears that Russia is in the mood to use nuclear weapons against Ukraine.
Kiev Mayor Vitaly Klitschko fears that Putin could use nuclear weapons against the capital, Kiev, as he faces defeat in the invasion of Ukraine.
Russia has abandoned its decision to capture Kiev, with most Russian troops retreating, as operations to capture Kiev are thwarted by Ukrainian troops.
But city mayor Klitschko fears Russia is preparing for another attempt. Noting that Ukraine is currently on the brink of war, Klitschko noted that the situation was such that no Ukrainian citizen could have his life guaranteed.
Klitschko also noted that the full responsibility of people returning to Kiev is to protect their lives. Vladimir Putin's primary goal is to capture the city of Kiev, so his vision will definitely return to Kiev, Klitschko said.
Dmitry Medvedev, who is very close to Vladimir Putin, has warned Western nations to stop supplying arms to Ukraine.
Former Russian President Dmitry Medvedev has expressed his displeasure with NATO. NATO stockpiling weapons in Ukraine, preparing Ukrainian troops to use Western weapons,
Dmitry Medvedev warned that sending mercenaries and conducting exercises by its allies near the Russian border would increase the likelihood of a direct and open war between NATO and Russia.
This is why Kiev Mayor Vitaly Klitschko has expressed fears over the use of nuclear weapons.
As a result, Indian companies as a whole do not openly receive money from Russia during this transaction. This is something that is constantly happening in many places. Not on a large scale though. So it is said that Indian importers do not need to worry about how to import to Russia through this transaction. However, the big question is how Russia will get this.
However, the question of how far this is possible has been questioned by many.
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