India will face consequences for Russian currency trade: US
INDIA: The United States has warned India that if it trades with Russia in Russian currency or rupees, it will suffer the consequences.
According to Indian media, Daleep Singh, the US deputy national security adviser for global economy, who is currently visiting India, has warned that India should bear the brunt of trade with Russia in Russian currency or in rupee. Singh said if India swapped or bought oil from Russia against US sanctions, many Western countries would impose tough sanctions on India.
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Reports also state that the US National Security Advisor has made it clear to India that even if there is Line of Control (LoC) action with China, India should not expect help from the United States.
On the other hand, according to Indian media, Russian Foreign Minister Sergei Lavrov met yesterday with his Indian counterpart S. Jaishankar.
The Russian foreign minister had said that Russia was interested in establishing a “balanced world order” that would make it sustainable. In fact, when the reports of the Russian Foreign Minister’s visit to India were published, the United States criticized India, calling it “extremely disappointing”.
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“Now is the time to stand on the right side of history and with the United States and dozens of other countries,” U.S. Commerce Secretary Gina Raimondo told reporters in Washington on Wednesday.
According to Indian media, Sergei Lavrov’s visit to India is expected to focus on India buying Russian crude oil at lower rates and setting up a rupee-ruble payment system for bilateral trade in view of Western sanctions against Moscow. India is also offering huge concessions on oil sales to Russia.
“If India wants to buy something from us, we are ready for mutually acceptable dialogue and cooperation,” Sergei Lavrov said. On Friday, Foreign Minister Jaishankar said, “Our relations have grown and this meeting has taken place in a difficult environment, apart from the epidemic.”
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According to Indian media, the stage is set for India to play a mediating role in the war between Russia and Ukraine. Friday’s meeting between Russian Foreign Minister Sergei Lavrov and Prime Minister Narendra Modi proved to be an important step in this regard. After Russia’s earlier statement acknowledging India’s mediating role in the war in Ukraine, Prime Minister Narendra Modi said India was ready to cooperate in any way in the peace process. Modi and the Russian foreign minister met for 40 minutes amid international pressure on India to take a stand against the Russian invasion of Ukraine.
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