this post was submitted on 11 Sep 2023
175 points (99.4% liked)

Ukraine

8312 readers
339 users here now

News and discussion related to Ukraine

*Sympathy for enemy combatants is prohibited.

*No content depicting extreme violence or gore.

*Posts containing combat footage should include [Combat] in title

*Combat videos containing any footage of a visible human must be flagged NSFW

Server Rules

  1. Remember the human! (no harassment, threats, etc.)
  2. No racism or other discrimination
  3. No Nazis, QAnon or similar
  4. No porn
  5. No ads or spam (includes charities)
  6. No content against Finnish law

Donate to support Ukraine's Defense

Donate to support Humanitarian Aid

founded 2 years ago
MODERATORS
[email protected]
doo
[email protected]
175
Russia says there's a problem with billions of rupees it has in India that need to be converted (markets.businessinsider.com)
submitted 1 year ago by [email protected] to c/[email protected]
33 comments fedilink hide all child comments
 

Key quotes:

Russia has accumulated billions of rupees that are sitting in Indian banks.

Reuters reported that Russia and India have suspended negotiations over using rupees for trade between the two countries.

Russia prefers to be paid in Chinese yuan, which has become the most-used foreign currency in Russia.

Russia and India remain deadlocked in a currency dispute that has also frozen weapons sales between the two countries.

India won't pay Russia in US dollars over concerns that it may face secondary sanctions and won't pay in rubles because of worries about obtaining Russia's currency on global markets at a fair rate,

Recently, (Russia) agreed to use the (Chinese) yuan to for payments on a nuclear-power plant deal with Bangladesh, after previously insisting on using its ruble.

you are viewing a single comment's thread
view the rest of the comments
[โ€“] [email protected] 7 points 1 year ago (1 children)

As an American, I support the Euro too. It really doesn't matter what currency is used. The benefit US of having THE international currency is tiny. It means that we can't do as much to manipulate it's value (control inflation) as we'd like.

[โ€“] [email protected] 1 points 1 year ago

It does mean however that your sanctions go a lot further, by wielding the threat of freezing foreign dollars.