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cross-posted from: https://lemmy.zip/post/54187632

Ahead of the visit, Sberbank said it was interested in investing in Indian infrastructure projects making use of rupees, in which a big chunk of two-way trade is settled.

India CEO Ivan Nosov said Sberbank was also extending rupee loans to Russian exporters and local units to boost Indian sales of Russian products.

India does not plan to freeze defence ties with Moscow anytime soon as it requires support for the many Russian systems it operates, Defence Secretary Rajesh Kumar Singh said last week.

Russian Sukhoi-30 jets make up the majority of India’s 29 fighter squadrons and Moscow has also offered its most advanced fighter, the Su-57, which is likely to figure in this week’s talks, said two Indian officials familiar with the matter.

India is likely to discuss buying more units of the S-400 air defence system, Singh said last week.

  • Sepia@mander.xyzEnglish
    4·
    1 day ago

    Putin is desperate as he’s struggling to find trade partners. India used to be the biggest buyer of Russian crude oil but has been decreasing its volume significantly this year - and the downward trend goes on (with even China, Russia biggest ‘ally,’ significantly reducing its Russian oil imports as the trade data reveals).

    There is not only the ‘U.S. factor’ of sanctions as the elephant in the room. Australia, Canada, the EU, and many others are in the process of negotiating new trade agreements with India. If Mr. Modri chooses to go with Putin’s Russia, he knows that he will have a tough stand with these Western partners. And this isn’t worth the price.