Gazprombank Deepens Links With Indian Banks To Facilitate Bilateral Trade
NDTV
Trade between India and Russia has surged since the West imposed sanctions against Russia for its invasion last year of Ukraine, which has altered flows of oil and other goods.
Russia's Gazprombank has expanded its links with banks in India to expedite trade between the two countries in national currencies, a key executive told Reuters on Monday, as Russia this year has become the biggest supplier of oil to India.
Trade between India and Russia has surged since the West imposed sanctions against Russia for its invasion last year of Ukraine, which has altered flows of oil and other goods.
"We worked hard to establish our level of partnership with Indian banks and our representatives here worked hard," Elena Borisenko, deputy chairman of the board of management of Gazprombank, told Reuters on the sidelines of an India-Russia business dialogue event in New Delhi on Monday.
"Now we have infrastructure, we have payments from banks ... it is much better than it was three months ago," she added.
