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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 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 payments system soon after Moscow invaded Ukraine in February last year.

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.)


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

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