Money Castle: Russia is left without income for oil trade with India - Reuters

According to journalists, Moscow had serious problems due to calculations in Rs during the sale of oil to the Asian country. They "hung" about $ 39 billion. After the loss of the European market for the sale of oil, Russia has begun to establish deliveries to Asian markets. In addition to China, the aggressor country actively cooperated with India, increasing the supply of "black gold" to this country 11 times.

However, it seems that the Kremlin has been faced with another failure: Russian exporters cannot get money for the raw material sold, Reuters reports. According to journalists, about $ 39 billion has been overwhelmed in the air, which Indian oil companies do not know how to return Russian suppliers. As one of the bankers explained, all because exporters receive Rupees during the conclusion of oil agreements with the Russian Federation.

The problem was manifested in 2022, but now its scale has increased greatly: in terms of the rate, the suspended amount is approximately 3. 6 trillion rubles. It turns out that the Kremlin cannot get Rupees for India sold, and the withdrawal of money from the country is blocked by a local regulator. The reason: the Indian Central Bank forbids the circulation of its currency outside the country.

The supply of goods from India that could be spent on the Rupees is very small: from January to May, they amounted to only $ 639 million, although the share of Russian exports to the Indian market was $ 26. 5 billion. The problem that has arisen has not yet been solved. The search for solutions lasts at least last fall and remain in vain.

Recall that on May 4, 2023, Reuters, citing Indian officials, reported that Russia refuses to sell in Rs, as it is afraid of the formation of a significant excess of that currency. According to sources of the publication, Moscow wants to pay the transactions in Yuan. Meanwhile, China, which has recently been one of the main buyers of Russian oil, is switched to Iranian oil. Reason: Energy resource from Russia is too expensive.