JUST IN
First of 4 abort missions of Gaganyaan in May: Centre tells Lok Sabha
Delhi Police files chargesheet against Flipkart, Instakart for selling acid
Need to provide quality products to consumers at affordable prices: Goyal
Good way to keep healthy is to practice yoga even at workplace: PM Modi
UIDAI makes Aadhaar document update facility online free till June 14
Recognition of CM Eknath Shinde-led faction well reasoned: EC tells SC
Yamuna riverfront at Millennium Depot to be made similar to Sabarmati: LG
SVB fallout: Nazara Tech says Rs 60 cr shifted to other bank accounts
RBI Governor Das gets the 'Governor of the Year' award for 2023
Adenovirus alarm: Four more child deaths reported from Kolkata
You are here: Home » Current Affairs » News
A 4-member GST appellate tribunal likely in each state, says official
icon-arrow-left
Business Standard

India using SWIFT payment system to settle dollar trade with Russia: Report

The West blocked several Russian banks' access to the international SWIFT payments system soon after Moscow invaded Ukraine in February last year

Topics
India | Swift | Russia

Reuters  |  NEW DELHI 

SWIFT payment system
SWIFT payment system

NEW DELHI (Reuters) - Indian is using the SWIFT global payment system to settle dollar payment with Russia, a top trade official said on Wednesday, at a time when the Asian nation has sharped increased its purchases of discounted coal and oil from Moscow.

The West blocked several Russian banks' access to the international SWIFT payments system soon after Moscow invaded Ukraine in February last year.

SWIFT underpins financial transactions globally.

 

(Reporting by Shivangi Acharya; Editing by Andrew Heavens)

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

Subscribe to Business Standard Premium

Exclusive Stories, Curated Newsletters, 26 years of Archives, E-paper, and more!

Insightful news, sharp views, newsletters, e-paper, and more! Unlock incisive commentary only on Business Standard.

Download the Business Standard App for latest Business News and Market News .

Read our full coverage on India

First Published: Wed, March 15 2023. 18:48 IST

`
RECOMMENDED FOR YOU