Russia Says Dollar Still Welcome Despite Currency Shift

Russia is not seeking “de-dollarisation” and is open to all acceptable methods of payment, Kremlin spokesman Dmitry Peskov said during a virtual meeting with Indian journalists. Without naming specific countries, he added that some nations use their currencies as political tools.

According to Peskov, 90% of transactions between Russia and BRICS nations are already conducted in national currencies. The issue of excess Indian rupees accumulated by Russian companies through bilateral trade is also gradually being resolved.

Russian President Vladimir Putin will attend the BRICS summit in New Delhi on 12 and 13 September, where he is expected to focus on security, the economy, finance and culture. On Friday, he will also hold talks with Indian Prime Minister Narendra Modi, with trade and economic issues set to make up a large part of the agenda.

Moscow and New Delhi are also discussing cooperation on rare earth exploration. The possible sale of Russian Sukhoi Su-57 stealth fighter jets to India is also on the bilateral agenda.

BRICS includes Brazil, Russia, India, China, South Africa, Ethiopia, Egypt, Indonesia, Iran and the United Arab Emirates.

(Reuters, bak)