OREANDA-NEWS  Russia and India are switching to national currencies in mutual trade, Zamir Kabulov, director of the second department of the Foreign Ministry.

"We are fundamentally moving away from the dollar and the euro, we need to switch to national currencies," the diplomat said.
He added that for a full transition, it is necessary to resolve the issue of the continuing imbalance in trade operations.
"So far, India buys more from us than it sells, more than five times. Experts are working on this, looking for a reasonable compromise," Kabulov concluded.

In early November, the Government of India allowed the use of the national currency in international trade settlements. Last week, Director General of the Federation of Indian Export Organizations Ajay Sahay said that the country will start using the rupee in settlements with Russia this year.